Per capita consumption ranking in 35 cities: 5 cities exceed 40,000 yuan, with Wenzhou ranking first

35 cities per capita consumption ranking: 5 cities exceed 40,000 yuan, Wenzhou's per capita consumption rate ranks first

　　In terms of per capita consumption expenditure, the top ten cities are Shanghai, Shenzhen, Beijing, Guangzhou, Hangzhou, Zhuhai, Foshan, Xiamen, Changsha, and Dongguan, mainly in the south; in terms of per capita consumption rate, the top ten cities Mainly northern cities.

　　Consumption has become the main engine to promote my country's economic growth.

According to the "Opinions on Leading the Accelerated Development of New Consumption with New Business Forms and Models" recently issued by the General Office of the State Council, by 2025, a number of new consumption model cities and leading enterprises will be cultivated.

So, what is the current consumption power of major cities?

　　A reporter from China Business News has combed and studied the per capita consumption expenditure and consumption rate (the proportion of final consumption in GDP) in major cities. In terms of per capita consumption expenditure, the top ten cities are Shanghai, Shenzhen, Beijing, Guangzhou, Hangzhou, Zhuhai, Foshan, Xiamen, Changsha and Dongguan are dominated by southern cities; in terms of per capita consumption rate, northern cities are mainly the top cities.

　　It should be noted that the per capita consumption expenditure data of some key cities has not been published, so it is not included in the statistics; in other cities, per capita consumption expenditures of urban residents and rural residents have only been released. Financial reporters calculated the per capita consumption data of all residents based on the local urbanization rate.

Top 10 cities in per capita consumption: first-tier cities lead

　　A reporter from China Business News calculated the per capita consumption expenditure of 35 major cities in 2019. The per capita consumption expenditure of 17 cities exceeded the 30,000 mark. Except for Changsha and Wuhan, the remaining 15 cities are located in the developed eastern coastal areas, mainly concentrated in Yangtze River Delta, Pearl River Delta and Beijing-Tianjin.

Among them, there are five cities with per capita consumption expenditure exceeding 40,000 yuan. They are the four first-tier cities of Shanghai, Shenzhen, Beijing, and Guangzhou, and Hangzhou, a quasi-first-tier city that has developed rapidly due to the digital economy in recent years.

　　Shanghai, the top of the list, last year, the per capita consumption expenditure of residents in the city was 45,605 yuan, an increase of 5.2% over the previous year.

Shanghai is also the city with the highest per capita disposable income of residents. According to a sample survey, the per capita disposable income of residents in the city was 69,442 yuan in 2019, an increase of 8.2% over the previous year.

　　The per capita consumption expenditures of Shenzhen and Beijing both exceeded RMB 43,000, ranking second and third respectively.

It is worth noting that although Guangzhou has been inferior to the other three first-tier cities in terms of financial and Internet industry development in recent years, and the number of listed companies is even lower than Hangzhou and Suzhou, its performance in per capita consumption expenditure is not weak.

Statistics show that last year, Guangzhou's per capita consumption expenditure was 41999 yuan, which is not far behind Beijing and Shenzhen.

　　Compared with the higher residential consumption expenditures in Shenzhen, Beijing and other places, Guangzhou, which has lower housing prices, has more prominent consumption in food.

In July this year, at the 159th epidemic prevention and control resumption press conference in Guangzhou, He Jiang, director of the Modern Market Research Institute of Guangzhou Academy of Social Sciences and executive editor of the "Guangzhou International Trade Center Development Report", introduced that from the per capita consumption level In view of this, the per capita retail sales of consumer goods in Guangzhou ranks first among major domestic cities.

Among various types of consumption, the catering consumption continues to be vigorous. The total catering consumption in Guangzhou is comparable to that of Beijing and Shanghai, and the per capita catering consumption has remained the highest in the country for many years.

　　Peng Peng, executive chairman of the Guangdong System Reform Research Association, analyzed to a reporter from China Business News that Guangzhou has a strong willingness to consume food and can eat late at night, so the cost of eating and drinking is relatively high.

　　Among the top ten, Changsha, ranked ninth, is the only city in the central and western regions, surpassing developed coastal cities such as Dongguan, Suzhou, Wenzhou, Ningbo, and Wuxi, which also shows Changsha's strong consumption capacity.

　　Tong Zhongxian, a researcher at the Hunan Academy of Social Sciences, analyzed to a reporter from China Business News that Changsha is a typical consumer city, and everyone dares to consume.

Housing prices in Changsha are relatively low, and everyone has more money to spend. This will have a stronger effect on the economy.

　　"My friends around me are not under great pressure to provide housing, but everyone's consumption of eating, drinking, and playing is indeed relatively high." said Ms. Xiao, who works in Changsha.

　　For different cities, the per capita consumption expenditure of residents is affected by many factors, such as housing prices, prices, and disposable income.

In general, the higher the per capita disposable income of the city, the higher the per capita consumption expenditure of residents.

However, per capita consumption expenditure is also affected by some structural factors. For example, the higher the urbanization rate, the higher the per capita consumption expenditure of all residents.

　　For example, although Xiamen's per capita disposable income is lower than Suzhou, its per capita consumption expenditure is higher than that of Suzhou. This is because Xiamen's urbanization rate is 12.2 percentage points higher than Suzhou.

　　At the “China's New Urbanization Theory, Policy, and Practice Forum 2020” recently held at Tsinghua University, Professor Cai Fang, deputy dean of the Chinese Academy of Social Sciences, said that currently about 40% of people live in rural areas, but they are in the consumption of residents. It only accounts for 22%. Obviously, the increase in consumption of rural residents is the biggest potential for driving China's economy in the future.

Resident expenditure as a

proportion

　　This year, the central government proposed that it is necessary to give full play to my country's ultra-large-scale market advantages and domestic demand potential, and build a new development pattern in which the domestic and international double cycles promote each other.

In this process, consumption is a very important part.

　　Statistics show that in 2019, my country's consumption as the main driving force of economic growth has been further consolidated. The contribution rate of final consumption expenditure to GDP growth is 57.8%, which is 26.6 percentage points higher than the total capital formation.

　　At the aforementioned forum, Cai Fang said that China’s population accounts for 18.2% of the world’s population, and China’s GDP has accounted for 16.3% of the world’s total at the official exchange rate, but final consumption still only accounts for 12.1% of the world’s.

If the proportion of our GDP and the proportion of our consumption can reach the same level, there is still 4% of the potential to be tapped, which will have a very significant boost to the Chinese economy.

　　So what is the consumption rate of each city?

Final consumption includes household consumption and government consumption.

At present, some people use the proportion of total retail sales of consumer goods in GDP to measure the consumption rate of cities.

　　From the perspective of the ratio of total social consumption to GDP, 9 of the 39 cities counted by China Business Journalists accounted for more than 50%. They were Shenyang, Shijiazhuang, Hohhot, Dalian, Wenzhou, Jinan, Xi’an, Lanzhou and Nanning.

　　However, using the ratio of total social consumption to GDP to measure the city's consumption rate is not entirely accurate.

On the one hand, the total social consumption is the consumption of commodity goods, and the residents' consumption includes not only the consumption of goods but also the consumption of services. Especially in recent years, the consumption of services has been rising.

　　On the other hand, the total social consumption of a central city comes not only from the consumption of local residents, but also from surrounding areas, especially provincial capitals, transportation hubs, and commercial central cities; and some non-provincial cities, especially manufacturing industries In the production-oriented cities, social consumption is mainly from the consumption of local residents, and much less from the surrounding areas.

　　Therefore, it is more accurate and meaningful to measure per capita consumption expenditure/per capita GDP (not including government consumption, so this data is significantly lower than the final consumption rate) or "per capita consumption rate".

According to the statistics of the per capita consumption rate of 35 major cities by CBN reporters, there are 7 cities with this data exceeding 30%, namely Wenzhou, Harbin, Shenyang, Tianjin, Shijiazhuang, Lanzhou, and Dongguan. Generally speaking, the northern cities are the majority.

　　In contrast, the lower data are mainly production-oriented cities and manufacturing cities in the south, such as Changzhou, Wuxi, Nantong, etc., as well as Hefei and Shenzhen.

According to Peng Peng's analysis, these major manufacturing cities in the south mainly produce terminal consumer goods. The products they produce not only meet local demand, but also export more.

In contrast, some places have less demand for terminal products and more imported products, which also affects the value of per capita consumption rate.

　　In addition, factors such as consumption concepts and housing prices in different regions will also affect the "per capita consumption rate."

For example, due to the early industrialization process in many northern cities, the proportion of non-commercialized housing is very large, and the overall housing price level is low, so more residents' income will be used for daily consumption.

In contrast, higher housing prices in some places will correspondingly reduce the residents' daily consumption expenditure.

　　Ding Changfa, an associate professor in the Department of Economics of Xiamen University, analyzed to a reporter from China Business News that many residents of northern cities are employed within the system, and all kinds of social security are complete, and they dare to consume.

In many cities in the south, there are quite a lot of migrant workers who have earned money back to their hometowns. This also affects the consumption expenditure of urban residents.

At the same time, high housing prices have crowding out and restraining effects on residents' consumption.

And in some first-tier cities, some residents' consumption expenditures on education and training services even exceed their expenditure on consumer goods.

　　Author: Lin Xiaozhao