The National Development and Reform Commission has released its Resident Consumption Development Report for 2017. Last year the overall rate of consumption in China maintained steady and rapid growth.
The per capita consumption expenditure was over 18,000 yuan, which shows an increase of about seven percent over 2016.
The proportion of service consumption continues to expand, including in education, healthcare, culture and entertainment.
Increased sales were seen in consumer products such as communications equipment; sports and entertainment products; and cosmetics. Specifically, the rapid development of information consumption in recent years has benefited from significantly improved infrastructure capabilities.
“Our fiber-optic broadband and 4G networks are rapidly developing. At present, more than 90 percent of homes in urban areas have fiber-optic circuit capabilities, and the proportion of broadband access to administrative villages reaches 96 percent. China has built the world’s largest 4G network covering all cities and major townships.” Sun Wei, Deputy Inspector of High Technology Division of The National Development and Reform Commission, said at the conference.