Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments September 7, 2013 erstellt
Description:
China's consumption rate is widely believed to be too low. In this paper, we show that official statistics have significantly underestimated Chinese household consumption. First, housing consumption is grossly underestimated due to the construction cost-based method. Second, a lot of private consumption is paid for by companies but can't be accounted for in official statistics. Third, and most important, high-income households are significantly underrepresented in the household surveys upon which household consumption statistics are based. Our re-estimation suggests that the rate of China's consumption is more than 60% of GDP, considerably higher than the official 48-49% of GDP