Liu Yuanchun, President of Shanghai University of Finance and Economics, believes that too low consumption in China is determined by the structural problem of the medium -term. It is wrong to believe that the high consumption rate of the people's savings rate is wrong.
According to the First Financial Network report, Liu Yuanchun Monday (November 6) said at the Sixth Hongqiao International Economic Forum Consumption Sub -Forum that solving China's consumption problem and cannot copy American operations.It can stimulate short -term consumption through measures such as "big water drilling" and "falling pie in the sky", which may lead to cross -term disorders and inflation.
He said, "If you copy your homework, maybe our future inflation may be two digits, and the problem of low consumption rate cannot be cured, but it will cause greater trouble."
Liu Yuanchun believes that too low consumption is an established fact. This is determined by the structural problems in the medium term. "Many people say that Chinese people love savings too much, which is why our consumption rate is too low. This view is wrong."The savings rate of Chinese residents is not as high as generally considered as high.
Liu Yuanchun pointed out that China's consumption downturn has both structural problems and short -term problems, which is mainly reflected in the changes in residential asset liabilities; existing real estate assets shrink to the income impact on different classes.There are also financial assets such as stocks and bond markets shrinking.The debt statement of Chinese residents is still in a process of constant adjustment.
He believes that the need to launch a policy of expanding consumption to stimulate consumption.
