服务消费不足
Search documents
刘世锦:“十五五”期间消费占比每年需提升1个百分点 这是稳增长的“硬任务”
Xin Lang Cai Jing· 2025-12-03 09:36
Core Viewpoint - The main challenge facing the economy since the shift in growth rate in 2010 is demand constraints, particularly insufficient terminal demand, which is highlighted by a structural deviation of approximately 20 percentage points in consumption as a share of GDP compared to the international average [1][2]. Group 1: Economic Challenges - The core issue is insufficient terminal demand, primarily characterized by a lack of service consumption, especially in areas such as education, healthcare, social security, and elderly care, which are related to developmental consumption and basic public services [1][2]. - This structural deviation has been previously masked by the rapid growth of non-productive investments in real estate and infrastructure, but as the growth rate of these sectors has significantly declined, consumption shortfalls have become a bottleneck, leading to overcapacity and nominal growth falling below actual growth [1][2]. Group 2: Recommendations for Growth - During the "14th Five-Year Plan" period, it is proposed that increasing the resident consumption rate should be a hard task for stabilizing growth, with a recommendation to raise it by no less than 1 percentage point each year, aiming for a cumulative increase of 5 percentage points over five years to inject fresh vitality into economic growth [1][2].