Research On The Impact Of China's Population Aging On The Consumption Structure Of Urban And Rural Residents

Since China entered the aging society in the late twentieth century,the proportion of the elderly population has continued to rise,and the rate of aging has been accelerating.It has become one of the fastest-growing countries in the world.The deepening of the population aging means that the gradual disappearance of the demographic dividend will have an impact on China's economic development.Since 2008,world economic growth has begun to slow down.With the tightening of international markets,China's economic growth model,which mainly relies on investment and import and export,has been impacted,and the problem of insufficient domestic consumption has begun to stand out.And the lack of domestic consumption will make the economic growth lack of stability and sustainability,so increasing domestic consumption is very important to stimulate economic growth.Especially in the context of China's population ageing,the elderly as the main body of special consumption,their consumption patterns are different from those of other ages,and the elderly have special needs for various goods and services Therefore,the acceleration of population aging is bound to affect China's consumption.Compared with other population aging countries,China has a typical urban-rural dual economic structure.Due to the different economic conditions of the elderly population in urban and rural areas,their consumption levels and structures are more different.Therefore,this article uses consumption as the starting point to study our population the influence of aging on the consumption structure of urban and rural residents,and put forward corresponding suggestions based on the research results,and play a certain guiding role in coordinating the development of population and economy.This article first introduces the influence mechanism of population aging on the structure of residents' consumption,and explains the impact of population aging on the structure of residents' consumption from a theoretical level.Second,it details the current situation and characteristics of China's population aging and its consumption.Taking into account China's typical urban-rural dual economic structure,the empirical analysis part focuses on urban and rural subjects,selecting panel data from 31 provinces and cities in China from 2008 to 2017,by establishing an appropriate panel regression model to explore the effects of population aging on the seven types of urban and rural residents' consumption expenditure.The main conclusions are as follows: First,the aging of China's population has reduced the consumption of food,tobacco,clothing,daily necessities and services in overall consumption.Among them,the reduction in consumer spending on clothing and services is not the subjective reduction in consumption demand of the elderly,mainly due to the immature market development.Second,the aging of China's population will increase housing,education,cultural,and entertainment consumption expenditures.Urban and rural consumption expenditures in these two categories are growing faster than those in rural areas.The reason is that urban elderly have more pensions and free time.Third,the aging of China's population will increase transportation and communication and medical and health care expenditures.Rural and rural consumption expenditures in these two categories will outpace those of cities and towns.The aging of the rural population will have a greater positive impact on transportation and communication and medical and health care expenditures.Finally,based on the theoretical and empirical analysis,based on the impact of China's population aging on the consumption structure of urban and rural residents,this paper concludes with the implementation of active population policies,promotion of reemployment of the elderly,active development of the elderly industry,and acceleration of medical care for the elderly proposed corresponding countermeasures.