The Impact of Changes in China's Population Structure on Consumption Patterns

Abstract

Consumer spending is the key engine driving economic growth in China. However, in recent years, the overall consumption pattern in China has been affected by domestic epidemics, leading to an increase in unemployment rates among residents and a decrease in consumer willingness. As a result, the annual changes in final consumption expenditure have tended to stabilize, with almost no upward trend. Consequently, numerous studies have emerged based on the current consumption situation in China, providing recommendations to promote consumption. This paper, using data from the World Bank and China's National Statistical Yearbook, conducts research on the impact of demographic changes on consumption structure and proposes relevant suggestions to boost consumption in China. Researching the development of China's population structure reveals several notable trends. These include a decrease in the working-age population accompanied by a significant aging trend, improvements in population quality due to enhanced human capital, and a noticeable trend towards urbanization and increased population mobility. Therefore, this paper provides a series of recommendations, encourages national policies and corporate innovations that promote consumption, and offers solutions to potential issues arising from changes in population structure.