Per capita consumption of 31 provinces in the first half of the year: over 20000 in Beijing and Shanghai, with a high proportion of food, tobacco and alcohol

Recently, the National Bureau of statistics released the per capita consumption expenditure data of 31 provinces in the first half of the year, with Shanghai and Beijing exceeding 20000 yuan. Let's see where the money goes?

Information picture: supermarket shopping. Photo by Zhang Yanzheng

The per capita consumption expenditure of nine provinces exceeds that of the whole country

Shanghai is the best place to spend

In the first half of the year, the per capita consumption expenditure of residents in China was 11471 yuan, a nominal increase of 18.0% over the same period of last year. After deducting the price factor, the actual increase was 17.4%, an increase of 11.0% over the first half of 2019, an average increase of 5.4% in two years, and an average real increase of 3.2% after deducting the price factor.

Compared with the national level, the per capita consumption of Shanghai, Beijing, Zhejiang, Tianjin, Guangdong, Jiangsu, Fujian, Chongqing and Hubei exceeded the national average.

Specifically, the per capita consumption in Shanghai and Beijing exceeded 20000 yuan. Among them, Shanghai can spend the most, with a per capita consumption of 23644 yuan; Beijing followed closely, with a per capita consumption of 21564 yuan.

Su Jian, director of the national economic research center of Peking University, told Zhongxin Jingwei that the main reason is that the per capita disposable income of Beijing and Shanghai is much higher than that of other regions. As the two most developed cities in China, Beijing and Shanghai have a wide range of products for consumption, especially the relatively perfect service industry, which meets the diversified needs of residents.

The executive director and professor of Digital Economy Research Institute of Central South University of economics and law also pointed out that Beijing and Shanghai, as a first tier city, have developed economy, perfect industrial structure and strong per capita consumption ability.

Food, tobacco and alcohol accounted for the highest proportion

The consumption of education, culture and entertainment grows fastest

Source: National Bureau of Statistics

Residents' consumption expenditure includes food, tobacco and alcohol, clothing, housing, daily necessities and services, transportation and communication, education, culture and entertainment, medical care and other supplies and services.

Where did the money go? In the first half of the year, the consumption of food, tobacco and alcohol was the largest, reaching 3536 yuan; The highest proportion was 30.8%. In addition, the cost of living is also an important expenditure of per capita consumption. In the first half of the year, the per capita residential consumption expenditure was 2649 yuan, accounting for 23.1% of the per capita consumption expenditure. The per capita consumption expenditure was second only to food, tobacco and alcohol.

In terms of per capita consumption expenditure growth, education, culture and entertainment consumption grew the fastest, with a growth rate of 68.5%; Far ahead of other spending categories.

Talking about the consumption trend in the second half of the year, pan Helin believes that with the epidemic under control, China's consumption will continue to grow in the future. First, high-end consumption will continue to upgrade; second, consumption will gradually sink. With the improvement of economic level, the consumption power of the third and fourth tier cities will be further released.

Su Jian predicts that consumption recovery is expected to strengthen in the second half of the year. The improvement of the epidemic situation at home and abroad and the popularization of vaccines have created conditions for further population mobility. International tourism is expected to gradually recover in the second half of the year, thus playing a better supporting role in the recovery of consumption. In general, consumption, as the first carriage to drive the economy, can drive better economic development.