Citation:
PENG Chong and ZHONG Huiyong. The Productive Nature of Consumption and New Drivers of China’s Economic Growth[J]. Academic Monthly, 2025, 57(2): 56-66.
The Productive Nature of Consumption and New Drivers of China’s Economic Growth
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Abstract
In the current stage of China’s economic structural transformation,a proper understanding of the relationship between consumption and production,along with the formulation of corresponding policies,is particularly important for achieving high-quality economic development in China.This paper,based on a review of economic theories on consumption and production,summarizes five specific mechanisms by which consumption,especially service consumption,empowers production in the new development pattern.These mechanisms include consumption service outsourcing,consumption structure upgrading,third spaces,spatial quality,and new types of consumption models.Finally,the paper puts forward policy recommendations for the further development of China’s consumer service industry from three aspects:policy system,ecosystem,and governance system,providing a theoretical interpretation of the contemporary connotation of “the Productive Nature of Consumption” in the process of modernization with Chinese characteristics.
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