China’s next giant: Urbanized migrants as new consumers

CAI Fang

Professor and Director, Institute of Population and Labor Economics, Chinese Academy of Social Sciences

Abstract:

By examining the urbanization process underway in China, this paper predicts potential consumption expansion and its sustainability in the next decade and beyond. In years past, China’s urbanization pattern has transformed from semi-inclusive to inclusive, embodied in the better inclusion of migrant workers and their families under the umbrella of public services and changes in household registration (hukou) identity. This trend is expected to create a giant new consumer group in 10 years; 2020 is the target year the Chinese leadership has set for achieving a better-off society. In this paper we examine this by summarizing existing research.

Key Words:

Income gap, migrant workers, complete urbanization, potential of consumptron

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