The Effects Of Population Aging On The Consumption Of Urban Residents In China

Population Aging is a serious issue the global scope will face in the 21 st century.Although China as a developing country,the aging started late,the development pace of aging population is fast and the aging population is large.According the data of the United Nations population forecast 2015 version,to the year of 2040,the age population of old people will reach 430 million,the proportion of the aging population will reach 31%.The aging problem will be very grim.As the foundation of consumption,people play a decisive role in consumption expenditure.With the increase of age,people's psychology,physiology and consumption demand will change.In this context,the study of population aging on consumption behavior(LES)is very necessary.The paper based on the data of Chinese household financial survey,using linear expenditure system model(LES),analyzed the impact of population aging on the consumption behavior of urban residents in China.This article mainly elaborated from the following five parts: The first part introduced the research background and the research frame of this paper.The second part introduced the classical theory and literature review at home and abroad.The third part analyzed the aging current situation of our country's population and the current consumption situation of urban residents.The fourth parts was the empirical analysis.The fifth part of the main conclusions,and to clarify the direction of future research.The results showed that the per capita consumption expenditure of the aging family was still mainly concentrated on the basic needs such as food,clothing and housing.But,the aging family' spending elasticity and price elasticity on the goods of education,culture and entertainment,daily necessities and services,transportation and communication were Significantly higher than that in the non-aging family.These indicated that aging households in such products and services had great consumption potential.In the future,we should increase the development of such products and services to meet the market demand,and improve the consumption potential of residents.