The Further Study Of Chinese Household Saving Rate

At the end of 2008, global financial crisis had had an impact that can not be ignored on the real economy of all countries, China’s exports suffered heavy losses and therefore, how to ensure stable economic growth while the continued decline in exports, stimulate consumption demand, increase the ability of consumption has become the focus of attention. But high savings by China and other countries are considered to be a dominant factor that may have caused the global economic crisis.The high savings rate shows the problems of China which is the low consumption level and the lack of effective demand.High savings means low levels of consumption,leading to product backlog, then corporate profits are affected, and thus weaken the production enthusiasm, this to some extent hindered the company’s expanding production. Investment is not enough, it will naturally affect the rapid development of China’s economy. Therefore, the study of the causes of China’s high savings rate issue has been of great concern to theorists.According to China health and nutrition survey (CHNS) from 1989 to 2006, the article use the method of grouping to construct pseudo panel data.On the basis, we fit exponential smoothing transitions model using the pseudo panel data to research the relationship between residents’ savings rate and the age of children,also verify the existence of savings’ motivation for their children to marry in family. This article is the leader inland resolving the problem of Chinese residents’ high savings in terms of marital behavior.It studies that how household savings rate changes when children has the needs to get married.And we try to get an extreme point where savings rate reach the maximum. At this point, individual who enter the marriageable age has the most urgent need for marriage.The result shows that the relationship between children’s age in the family and household savings rate is nonlinear. When the children’s age is about 27 years old, the household savings rate reach the maximum.Thus,it confirmed that Chinese traditional marriage is one of the reasons that leads to high household savings.Combining conclusions of empirical analysis,the paper puts forward some policies to lower marriage market competition and to stimulate consumption in order to improve the status of higher household savings rate and promote healthy and stable development of the economy.