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The Differentiated Driving Forces of Consumption and Export to Economic Growth in China

In: Proceedings of the 2024 3rd International Conference on Public Service, Economic Management and Sustainable Development (PESD 2024)

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  • Zhixian Zhu

    (Hailing Foreign Language School)

Abstract

After the reform and opening up, Chinese economy has made huge achievement. However, in the past decade, due to the deterioration of external macroeconomic conditions, the economic growth of emerging economies in the world has slowed down significantly, and China is no exception. Based on this, the author takes the growth of export growth, GDP and consumption in China as the research objects, and collects data on the nominal GDP, consumption, investment, government expenditure and export growth rates from 2011 to 2024(the first quarter). Based on the GDP expenditure method and by establishing an OLS model, the results indicate that the growth rate of gross domestic products is significantly associated with the growth rate of consumption and export. Over the past thirteen years, each unit increase in consumption growth has led to a 0.2953934 unit rise in GDP growth, compared to a 0,1880651 unit increase for export growth. This demonstrates that GDP growth depends more on consumption than exports in China, supporting the strategic focus on domestic economic cycles and both domestic and international dual cycles.

Suggested Citation

  • Zhixian Zhu, 2024. "The Differentiated Driving Forces of Consumption and Export to Economic Growth in China," Advances in Economics, Business and Management Research, in: Qiujing Wu & Songsong Liu & Guoliang Wang & Jia Li (ed.), Proceedings of the 2024 3rd International Conference on Public Service, Economic Management and Sustainable Development (PESD 2024), pages 268-277, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-598-0_27
    DOI: 10.2991/978-94-6463-598-0_27
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