The Influence Of Population Aging On Consumption Of Urban And Rural Residents In China

Since the reform and opening to the outside world,China's economy has entered a period of rapid growth.With the rapid growth of GDP,the total amount of GDP has been increasing continuously.However,unlike the growth of China's total GDP,China's consumption has been at a lower level.Domestic consumption is seriously insufficient,and the growth rate of national consumption is very slow.In 2015,the per capita expenditure of urban consumption in China was only 27210 yuan,and the per capita consumption expenditure in rural areas was only 9679 yuan,and the growth rate was only 7%,11.1%.The final rate of consumption was 51.6%,just over half of GDP.The problem of insufficient consumption has become an important factor that restricts the sustained and rapid growth of China's economy.In addition,although the growth of the labor force has brought a great "demographic dividend" to our economy".But with the decrease of the birth rate and the aging of the population,"demographic dividend" is no longer,the burden of our country has become an obstacle to the rapid economic development.According to the definition of aging in the United Nations,China has already entered an aging society,and the degree of aging has been deepening.The problem of insufficient consumption and aging has become a major problem in China's sustained economic growth.Therefore,this article tries to discuss the consumption problem of urban and rural residents from the angle of population aging in China,so as to make corresponding instruction to our country's policy making,so as to improve the consumption level of our country.In this paper,on the basis of literature research,by using the provincial panel data during 2001-2014 in the basis of analyzing the influence mechanism of aging on consumption under the influence of population aging on urban and rural residents'consumption of empirical research.The results show that the aging population has a positive correlation with the consumption level of rural residents.The increasing degree of aging will promote the consumption level of rural residents.But the population aging has the reverse correlation to the urban resident's consumption level.The increasing degree of aging will curb the consumption level of urban residents.Based on the empirical results of the impact of aging on the consumption of urban and rural residents,the article gives some suggestions,in order to make corresponding policy guidance,in order to enhance the level of consumption in China.First,we should open up the aged market and promote consumption growth.Second,improve income levels,change consumer habits.Third,improve our income distribution system and narrow the income gap between urban and rural areas.Fourth,improve the employment environment and provide jobs.Fifth,to further improve China's social security system and the old-age insurance system,and reduce the savings motivation of residents.Sixth,reform the household registration system and speed up the process of urbanization.