Per capita GDP exceeded US $10,000 for two consecutive years, and the huge consumer market supported the transformation and upgrading of enterprises

More than 900 billion yuan! Recently, the Ministry of Commerce released data show that during the “2021 National Online New Year Shopping Festival” (January 20 to February 18), the national online retail sales reached 905.76 billion yuan. “On the one hand, due to the impact of the epidemic, there are still some concerns about offline shopping malls. On the other hand, new shopping methods such as live streaming have a good immersion, convenient selection and comparison, and get greater benefits.” Ms. Wang, who lives in Xi ‘an, Shaanxi Province, told reporters that this year’s New Year’s goods were basically purchased in online broadcast rooms.

Ms. Wang’s choice is a microcosm of the booming live-streaming economy. Under the epidemic, many people spend more time at home, and watching live broadcasts has become a new form of entertainment. At the same time, many live streaming platforms are also constantly opening up the content boundary, from the 1.0 show reward era into the 2.0 era of e-commerce with goods, to promote enterprises to open up offline and online around product content, in order to meet the rapid rise in market demand in the short term.

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“The huge consumer market has promoted industrial upgrading, urged production capacity to increase, and spurred the upgrading of manufacturing and consumption patterns.” Wang Junchao, associate professor of the Party School of the CPC Central Committee (National Academy of Governance), told reporters that China’s per capita GDP has exceeded 10,000 US dollars for two consecutive years, and has the world’s largest consumer group. The construction of a new development pattern with the domestic cycle as the main body and the domestic and international double cycle promoting each other will further stimulate economic vitality and promote consumption.

In recent years, China’s consumer market has developed rapidly, consumption contribution has been continuously enhanced, and consumption structure has continued to upgrade. Affected by the epidemic in 2020, consumption suffered a major impact, but with major achievements in epidemic prevention and control, a series of policies to promote consumption have taken effect, and the consumer market has continued to stabilize and improve. Data show that in 2020, the total retail sales of social consumer goods in China will reach 39.2 trillion yuan, and the proportion of final consumption in GDP will reach 54.3%, and consumption is still the “ballast” for stable economic operation.

“Significant scale effects and the largest consumer base, these factors continue to promote the transformation and upgrading of Chinese enterprises, improve quality and efficiency, and promote the high-quality development of China’s economy.” Wang Junchao said.

In addition, from the Fifth Plenary Session of the 18th Central Committee of the Party proposed the implementation of the strategy of network power, to the 19th National Congress of the Party further proposed the construction of network power, digital China, smart society and other strategic goals, and then to the “14th Five-Year Plan” proposal pointed out that unswervingly build a manufacturing power, quality power, network power, digital China, promote the industrial base of advanced, industrial chain modernization. We will improve economic quality, performance and core competitiveness. China has made major breakthroughs in cutting-edge science and technology fields such as 5G, quantum communication, voice recognition, and supercomputers, and has received major support, and has changed from “following” to “running” and “leading”, which has also laid the foundation for enterprises to transform to digital intelligence.