<p>CICC research report states that, from multiple dimensions, the ratio of China's consumption to GDP is relatively low. In international comparisons, the proportion of China's goods consumption to GDP does not show significant deviation from its economic development stage, but the deviation of service consumption's proportion to GDP from its economic development stage is relatively large</p>

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<p>CICC's research report points out that the ratio of China's consumption to GDP is relatively low, indicating significant room for improvement in the future, especially in the area of service consumption. The potential for improvement in service consumption is greater than that in goods consumption, particularly in the fields of medical insurance and entertainment. Goods consumption is mainly focused on upgrading and quality enhancement. Increasing labor compensation and implementing structural reforms, such as improving social security, are of great significance for boosting consumption</p>

CICC: Outlook for the Future of China's Consumption Still Has Significant Room for Improvement