"Wealthy" and "freedom" are the basis for expanding consumer demand

On July 21, the Shandong Provincial Government Information Office held a press conference to introduce the economic and social development of the province in the first half of the year. Wang Dong, deputy director of the Provincial Development and Reform Commission, said at the meeting that Shandong Province has always put the expansion of consumer demand in an important position, and carried out live ordering fairs, cultural tourism to benefit the people, consumption of home appliances, and "Shandong Super In various themed events such as the "Industrial City" Purchasing and Marketing Matchmaking Conference, market consumption has steadily rebounded. The total retail sales of consumer goods in the first half of the year increased by 24.5%, an increase of 1.5 percentage points higher than that of the country. The author believes that to promote consumption, upgrade files and expand capacity, and deeply tap the potential of consumption, in addition to vigorously launching various thematic activities, we should also focus on how to let the people hold "money" and "freedom" in order to further increase their consumption. Willingness and ability.

An important prerequisite for expanding consumption is to increase residents' income. At present, the per capita income level of Shandong residents does not completely match the status of our province's third economically strong province in the country. The per capita GDP ranks out of ten and ranks 11th in the country with a performance of 72,029 yuan. The per capita disposable income is 32886 yuan, ranking eighth in the country (source: National Bureau of Statistics). In contrast, Jiangsu Province, Guangdong Province, and Zhejiang Province, ranking first, second, and fourth in total GDP in the country, have per capita disposable incomes of 43,390 yuan, 41,029, and 52,397 yuan, respectively. The current minimum monthly wage in Shandong Province (2018 version) is 1,910 yuan, which is also the lowest among the top four economically powerful provinces in terms of GDP.

If the disposable income is not high, the public will inevitably have concerns about consumption and the willingness to consume is not strong. Therefore, we also need to work hard to deepen the income distribution system, continue to narrow the income gap, strengthen the tax system reform, and further raise the minimum wage standard. Shandong, as one of the first seven pilot provinces, needs to continue to implement the minimum wage and price linkage mechanism to realize the dynamic linkage between the slow-growing minimum wage and the rising price, continue to increase the income level, and promote the consumption ability of urban and rural residents. Stabilize consumption in the field of people's livelihood and release consumption expectations. Real estate, medical care, education, pensions and other fields are undoubtedly the major consumer areas where the people have invested the most and are most concerned about, and to a large extent also affect residents' consumption expectations. For example, the extracurricular tutoring classes, training classes, summer camps, etc. that bloom throughout the winter and summer vacations are a lot of expenses for many families, which can cost thousands or even tens of thousands of yuan. In June, the Provincial Department of Education issued an implementation plan that prohibits off-campus training institutions from opening preschool courses under any name, and it is strictly forbidden to organize and arrange educational activities for children aged 3 to 6 in the form of centralized teaching in the classroom. Such policies are expected to alleviate the financial burden of out-of-school training on parents.

Only by stabilizing the excessively fast rising trend of housing prices, rectifying consumer chaos in the livelihood field, persisting and improving the livelihood security system that balances urban and rural areas, etc., can the people's growing demand for a better life be met, and worries about the future can be reduced, and more consumer demand in other areas can be released.

Improve production efficiency and improve the protection of the right to work rest. From an economic perspective, sufficient leisure time is also one of the important factors affecting consumer behavior. The improvement of production efficiency should further reduce the working hours of laborers, free them from long hours of hard work, and then have more time and energy to carry out consumer behaviors. In recent years, the society has continued to discuss topics such as "996" and "007". Behind the banter and ridicule is the fact that many workers have "no time" for leisure and "no time for consumption". Whether it is cultural tourism, entertainment, catering, education and other fields, consumers need to invest a lot of time while consuming. Only when the right to rest of workers, especially the new generation of young workers, are adequately protected, can their greater consumption potential be released from them. Since May this year, many domestic Internet "big manufacturers" have begun to issue "overtime" restrictions, and many companies have cancelled the long-standing "small and small week" system to limit the length of daily overtime. On the other hand, the increase in leisure time can also promote people's overall development through leisure, travel, social interaction, charging, entertainment, public welfare and self-improvement, which will bring potential for their own income growth and further enhance future consumption. Ability to achieve a virtuous circle.

In addition, we also need to keep up with the sharing economy, experience economy, online economy and other new business formats and new consumption trends, accelerate the stimulation of domestic demand potential, benefit the people’s livelihood, do practical things, fully release the people’s consumption potential and tap new Consumer demand, thus laying a solid foundation for the stable and positive economic development to achieve high-quality development.


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