The Research Of China's High Savings Rate And Economic Growth Mode Transformation

In recent years, China's rapid economic development, total savings rate continuously improve long-term economic growth speed, tends to decelerate. Investment and export and consumption changes to economic growth is endless and same, which contribute to economic growth, investment contribution has strong volatility, until 1993, and its fluctuation tremendously,1993 after, fluctuations decrease gradually, in 2005 after the contribution of investment to economic growth in 40% fluctuation waves; Net exports to economic growth also has a bigger contribution of volatility, and year after year, after 2005, diminishing net exports to economic growth in the contribution of 20% below; Eventually the contribution to economic growth in consumption, in 2003, before large fluctuations in 2003, after 2008 slow steady growth for final consumption share of Chinese economic growth reached 45.7%. At present, our country investment and exports the contribution to economic growth has decreased, the contribution to economic growth in consumption increases year by year, however, the overall, consumption growth contribution or low level, lower than the world average level 79%-80%. China's high savings rate for investment offers plenty of funding, excessive, blind investment produced low investment efficiency, produce excess product, all domestic residents, only through to consumption, rely on exports of foreign residents consume excess capacity and high savings suppressed consumption level, especially to raise the level of consumer spending. Investment low efficiency, the trade surplus decreases, and rely on investment and export growth cannot long-term stable development, in order to cope with this situation our government proposed changing the style of economic growth on the strategic objectives:make the investment and export pattern of economic growth to investment and export and consumption of coordinated drive economic growth pattern, expanding domestic demand will become our next effective means of steady economic growth. Reduce consumption saving rate and increase, so as to improve the quality of life, promoting China's economic growth of healthy and stable.