日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

You’re Here : Home > News

Small, medium-sized cities to drive China's consumption growth: economist

Updated : 2017-06-01
( Xinhua )

BEIJING - Small and medium-sized cities will play a major role in driving China's consumption growth in the coming decade, according to a Morgan Stanley economist.

Robin Xing, the investment bank's chief China economist, predicted on Wednesday that national annual consumption will rise to $9.7 trillion in 2030 from last year's $4.4 trillion on the sidelines of the Morgan Stanley China Summit in Beijing.

"Third- and fourth-tier cities will contribute nearly two thirds of the increase," Xing said.

The proportion outshines the 9 percent from megacities such as Beijing and Shanghai, and the 21 percent for second-tier cities. Consumption in rural areas is expected to reach $400 billion, accounting for 7 percent of the total.

Personal consumption in such cities will grow the fastest at 8.7 percent year on year from now to 2030, according to Xing.

The economist, who has headed Morgan Stanley's research team in China for a year, said the promising prospects are based on the rapid population growth in smaller cities and a closing income gap with large cities.

"In contrast with dawdling first-tier cities, the number of permanent residents in smaller cities will see robust growth thanks to higher birth rates, relaxed household registration control and cheaper living expenses," Xing said.

The combined registered population in smaller cities is predicted to rise 2.5 percent each year throughout the 2017-2030 period, faster than 2 percent and 0.6 percent in second- and first-tier cities, respectively.

Xing also expects people living in smaller cities will have deeper pockets as the rapid urban development will boost incomes. Moreover, tame home prices and an improved environment will allow diminished precautionary savings and more money to be used for consumption, he added.

The rise of small and medium-sized cities is likely to push China's ongoing economic shift from industry to services and from investment to consumption. In the first quarter, consumption contributed 77.2 percent of the GDP increase.

Xing remained bullish on the outlook for the world's second-largest economy, predicting continued growth momentum and ruling out the possibility of a hard landing or a cash crunch in the money market.

He cited more flexible regulation on the yuan's exchange rate, well-managed financial tightening, robust exports, recovering private investment, and a more stable property sector.

However, he believes the GDP growth has peaked after a strong start in 2017, and the slowdown will likely resume in the next quarters.

主站蜘蛛池模板: 色婷婷综合网 | 一级做a爰片性色毛片男 | 欧美第一页草草影院 | 不卡的av在线 | 九一免费在线观看 | 99久久精品免费看国产 | 永久精品 | 日韩电影免费观 | 十八勿入 | 免费的色网站 | 午夜福利视频 | 中文字幕在线观看电影 | 天天看天天摸色天天综合网 | 秋霞激情 | 亚洲中午字幕 | 亚洲精品久久久 | 亚洲九九| 中文字幕av在线播放 | 日韩欧美在线免费观看 | 国产a视频 | 尤物视频在线观看 | 天天干天天拍天天操 | 美女羞羞视频网站 | 国产夜色 | 偷拍亚洲制服另类无码专区 | 欧美一区二三区 | 日韩欧美色 | 摸金校尉之九幽将军 | 免费一级在线 | 久草在线资源福利站 | 亚洲精品在线不卡 | 干片网 | www.久久色| 日日摸天天碰中文字幕 | 国产成人一级片 | 欧美一区二区在线免费观看 | 喷潮网站 | 亚洲精品久久久久综合中文字幕 | 精品免费国产一区二区三区 | 午夜看片在线观看 | 毛片1毛片2毛片3毛片4 |