Articles by 真叫卢俊团队

Unexpectedly, Consumer Attitudes Have Changed So Much in the Past Decade

Living standards have improved, but what are people's consumption preferences? A brief recall of wages and prices ten years ago confirms the improvement, but by how much? Let's look at the data. Source: China Statistical Yearbook. By the end of 2023, per capita income and expenditure have nearly doubled over the past decade. Remember the Engel coefficient from middle school? It measures the proportion of food expenditure in total consumption, indicating living standards. However, the coefficient has limitations for China, as people have turned survival consumption into enjoyment consumption.