Rosen: Increasing the proportion of household consumption in China's economic growth

Rongding Consulting company founder: Increasing household consumption in China's economic growth in the afternoon of the November 5 News, Rongding, founder of Rosen, said at the new Finance summit today that China's sustained economic growth needs to increase household consumption, while Chinese households have had almost zero capital gains for a long time. Rosen said the past decade has been the best decade for China's economy, but returns are not high. "China's households have 30 trillion of their deposits in the bank, but the return on their savings is almost nil.　　"The pattern of China's reliance on high savings and foreign trade surpluses to prop up growth is unsustainable," he said, while growth in an investment-intensive sector such as real estate is unsustainable.　　On the other hand, the US now needs to shrink the deficit or the economy will collapse, and the challenge for China is not to adjust the reality but to reject it. At present, China's domestic demand is not the household consumption but the government's start, and the government's spending money for the people. "Household consumption is very important for China to increase its share of economic growth." "(Ding from Beijing)