China's consumption upgrades accelerate: MOC

Updated 2018-01-19 23:50:04 Xinhua

China's consumption upgrades picked up pace last year with increasing demand for high-quality goods and services, the Ministry of Commerce (MOC) said Friday.

The Engel's coefficient, which measures food expenditure as a proportion of total household spending, dropped to 29.3 percent in 2017, from 30.1 percent in 2016 and 33 percent around five years ago, according to an MOC statement.

A lower index usually suggests a higher standard of living. China's per capita disposable income rose 7.3 percent last year.

"Consumer spending structure continued to improve, and there was a growing appetite for quality, customized products," the MOC said.

Green products and electronics including smart wearables, robotic cleaners and self-balancing scooters were especially favored by Chinese consumers. Sales of new energy vehicles jumped 53.3 percent from a year ago to 777,000.

The MOC also cited robust consumption in entertainment, tourism, and healthcare.

Contributing 58.8 percent to China's growth last year, consumption has served as the biggest economic driver for a fourth straight year.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58August 21 2018 04:43:47

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16August 21 2018 04:43:47

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18August 21 2018 04:43:47

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords