The Study On The Changing Trend And Reason Of Consumption Structure Of Chinese Urban Residents

As an important index to measure the level of consumption demand,consumption structure can reflect the specific content,level,quality of consumption demand and the satisfaction degree of residents' consumption demand in many ways.Since the reform and opening up,the consumption structure of Chinese residents has a great deal of changes,and the level of material and spiritual life has changed a lot.At the same time,Chinese economic growth relies too much on investment and export.Chinese investment rate and net export rate have increased almost year by year,while the final consumption rate has been at a low level for a long time.The insufficient consumption demand is the root of the longterm low final consumption rate.The key to expanding domestic demand lies in how to increase consumption.Therefore,it is of great significance to study the consumption structure of Chinese residents,especially urban residents,for expanding domestic demand,activating the consumption potential of residents and making consumption a new driving force for Chinese economic growth.On the other hand,the phenomena of overcapacity and unreasonable industrial structure still exist in some industries in our country.Studying the changing trend of consumption structure can provide a basis for industrial restructuring,formulate more forwardlooking policies and guide the advance layout of capital.Firstly,this paper makes a descriptive statistical analysis of the evolution of the consumption structure of urban residents in China,starting with the analysis of the overall consumption structure and specific consumption changes.Then,the time series and crosssectional data of per capita consumption expenditure of urban residents in China are empirically analyzed by using ELES model.The empirical results of ELES show that the consumption structure of urban residents in China is changing from survival consumption to development consumption and enjoyment consumption.According to marginal consumption tendency,it is found that the absolute amount of consumption expenditure will still be a hot spot in the future.According to the elasticity of income demand,it is found that the development of transportation communication,other types of consumption,education,entertainment and daily necessities will be the focus in the future.With the increase of income,the consumption expenditure of the type of consumption and the type of enjoyment increases faster.Then,we make a theoretical explanation of the reasons for the changes of consumption structure,and make an empirical analysis by using the system GMM method.The results show that income,price and consumption habits have a significant impact on most consumption expenditure,house price has a structural impact on consumption expenditure,and the elderly dependency ratio only has a positive significant impact on food and living goods and services,adolescent dependency ratio only has a negative significant impact on health care,other types of expenditure.Finally,on the basis of summarizing thie paper,two suggestions on industrial structure and macro-policy are put forward.