How Do Chinese People Spend Their Money?
INCREASING GDP
Nowadays, our national GDP is getting higher andhigher, as can be seen in the following line chart, every year the GDP grows inevery quarter. And the last quarter has reached as high as RMB 21179.81 billionyuan, and it will definitely go even higher.
Particularly, Western cities have a faster speed ofGDP growth than eastern cities, Guizhou gained the highest developing speed, and Liaoning is the slowest, as can be seen in the following table (Because the years 2013 and 2017 don't have the first and last quarters, so only the 2nd and3rd quarters have been analyzed.):
PEOPLE SPEND MORE WITHINCREASING INCOME
Overall, the DPI and EPC situations of Chinese people can be referred to the following charts:
Overall, the EPC increases with the DPI in everyquarter, both rural and urban do, and the amount increases every year too, yetalmost all the data of urban areas are twice as much of those of the ruralareas.
Shanghai, Beijing,Zhejiang, Jiangsu Got the Most DPI in China
Overall, Shanghai, Beijing, Zhejiang, Tianjin andJiangsu are always the top 5 on the list of the DPI, while Shanghai, Beijingand Zhejiang remained the top 3 all the way in the past 18 quarters.
Comparing the provincial data of both urban andrural DPI, Shanghai, Beijing, Zhejiang, Jiangsu, Fujian and Guangdong are themain competitors for the top five of the list of the urban DPI, Shanghairemained the 1st for the past 18 quarters, Beijing and Zhejiang were constantlythe 2nd and 3rd.
And Shanghai, Zhejiang, Beijing, Tianjin andJiangsu remains the top 5 on the provincial ranking list of "DPI ofChinese rural areas", and Shanghai and Zhejiang have been 1st and 2nd forthe past 18 quarters.
As a results, these provinces also have a higher capability of consumption. Talking about EPC, Shanghai, Beijing and Guangdongstayed unchanged at 1st, 2nd and 5th, and Tianjin and Zhejiang competed for the3rd and 4th on the list.
PEOPLE’SCONSUMPTION STRUCTURE CHANGED LITTLE
The trends of the amount of money people spend arevery similar, but the specific consumption structures are different.
People are buying less and less clothes, because overall, the sequence of items that people spend money on is: Food & Cigarettes & Alcohol - Housing –Transportation & Correspondence - Education& Entertaining - Medicare or Clothing - Others, and "Medicare"stated to surpass "Cloths" from 2015, and others remain unvaried.
The biggest difference between rural and urban areas is the sequence of "Clothing" and "Medicare", where rural people buy less clothes than urban citizens do.
