300mln only children to become major consumption group

时间：2007-02-02 01:14:54

（单词翻译:单击）

Chinanews, Beijing, Jan. 31 – An analytical1 report made by Guotai Junan Securities Research Institute predicts that Chinese society will soon enter into the third boom of consumption, as the 90 million only children, most born before 1981, have now grown up and become the major consumer group in society. In addition, there are about 300 million children born in China between 1992 and 1998. These children have also grown up and begun to consume. These two generations of children are inclined to spend money than save it, unlike their parents, China Business reported.

 

In 2006, Chinese people’s personal savings2 reached 16 trillion yuan and there was a huge surplus in export trade. In 2007, the central government aims to take measures to boost domestic consumption. All these will create favorable conditions for consumption to grow.

 

However, some scholars warn that the large savings figure does not imply that Chinese people’s income has also increased generally. At present, Chinese people’s per capita income is less than one-fourth of the world’s average. If not taken properly, consumption stimulating3 measures might make more people suffer from heavy financial burden that results from house purchase, car purchase by bank loans, or credit card overdraft4. At present, the number of people suffering from these financial problems has already reached an alarming level in China.

 

As investment begins to slow down and people’s income increases, it is expected that the proportion of consumption in China’s GDP figure will grow from the present 37% to 41% in 2015, said McKinsey in its recent report.

 

Yet it seems that most Chinese still prefer to put their money by in banks even if their income increases, since they have to save for their pensions and to pay for the high medical costs and the high educational costs for their children. In most cases, spendings like this make up a large proportion of their income and limit their consumption in other items.

 

In order to boost consumption, Chinese government might need to provide more public products in the next round of economic development.

 
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1 analytical lLMyS     
adj.分析的；用分析法的
参考例句：
  • I have an analytical approach to every survey.对每项调查我都采用分析方法。
  • As a result,analytical data obtained by analysts were often in disagreement.结果各个分析家所得的分析数据常常不一致。
2 savings ZjbzGu     
n.存款，储蓄
参考例句：
  • I can't afford the vacation,for it would eat up my savings.我度不起假，那样会把我的积蓄用光的。
  • By this time he had used up all his savings.到这时，他的存款已全部用完。
3 stimulating ShBz7A     
adj.有启发性的，能激发人思考的
参考例句：
  • shower gel containing plant extracts that have a stimulating effect on the skin 含有对皮肤有益的植物精华的沐浴凝胶
  • This is a drug for stimulating nerves. 这是一种兴奋剂。
4 overdraft 3m3z5T     
n.透支，透支额
参考例句：
  • Her bank warned that unless she repaid the overdraft she could face legal action.银行警告她如果不偿还透支钱款，她将面临诉讼。
  • An overdraft results when a note discounted at a bank is not met when due.银行贴现的支票到期而未能支付就成为透支。

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