The National Bureau of Statistics (NBS) says China has undergone major growth in the scale and quality of consumption over the past decade.
A report on economic and social development published by NBS on 11 October indicates that per capita consumption spending in China stood at 24,100 yuan in 2021, for a nominal increase of 99.9% compared to the figure of 12,054 yuan in 2021.
In real terms China’s per capita consumption spending has increased by 67.4% over the past decade, for average annual growth of 5.9%.
Urban per capita consumption spending was 30,307 yuan in 2021, for a nominal increase of 77.2% compared to 2012 and an inflation-adjusted increase of 47.8%, while rural per capita consumption spending was 15,916 yuan, for a nominal increase of 138.7% and a real increase of 99.7%.
NBS highlighted “optimisation and upgrade of the consumption structure” in its report, with rapid growth in travel, healthcare and education spending, as well as the increased share of services consumption expenditures.
In 2021 China’s per capita travel and communications spending was 3,156 yuan, for growth of 117.5% compared to 2012. It accounted for a 13.1% share of per capita consumption spending, for a rise of 1.1 percentage points compared to 2012.
Per capita education, cultural and entertainment expenditures in 2021 were 2,599 yuan, for an increase of 106.0% compared to 2012. It accounted for 10.8% of per capita consumption expenditures, for an increase of 0.3 percentage points compared to 2012.
In 2021 per capita services consumption expenditures accounted for a 44.2% share of per capita consumption expenditures, for a rise of 4.5 percentage points compared to 2013.