China’s First Comprehensive Report Series on Consumer Economy Operation Released

Written byLiu Na, Wang Chengqi

Edited byLi Wenwen

Translated by Li Wenqiang, Huang Can

Source: BusinessSchool&News Center

Accurately capturing andclosely analyzing the new phenomena, trends, and issues emerging in China's consumer economy is an essential part of driving high-quality economic development. On November 4, at a ceremony marking the 30th anniversary of the founding of Business SchoolofXiangtan University, the university releasedReport Series on the Operation of the Consumer Economy in China,the country’s first comprehensive researchseries to examinethe current performance of China’s consumer economy from multiple perspectives. Liu Qijun, Secretary of the CPC Xiangtan University Committee, and Xia Jiechang, Vice President of the National Academy of Economic Strategy, Chinese Academy of Social Sciences, and Vice Dean of the School of Business, University of Chinese Academy of Social Sciences, jointly unveiled the new publications.

Compared with previous similar studies, this achievement breaks away from the conventional research model of focusing on a single consumption-related phenomenon and producing a standalone report. For the first time, it presents a comprehensive series of in-depth studies centered on some of today’s most dynamic areas of consumption, including new consumption, tourism consumption, and agricultural product consumption. The first four reports released in the series areNew Consumption: Theoretical Definition and Case Analysis;Report on Chinese Residents’ Tourism Consumption Demand (2022);Research on Consumption Demand for China’s Classic Red Tourism Attractions Based on Online Popularity (2021); andReport on Online Word-of-Mouth Analysis of Regional Public Brands for Agricultural Products in Hunan Province (2022). Among them,New Consumption: Theoretical Definition and Case Analysisis the first book in China to provide a theoretical definition of the fast-growing concept of “new consumption.”By presenting the latest findings in consumer research in a matrix-style format, the series offers readers a more comprehensive understanding of the overall development of China’s consumption sector and advances innovation in consumption economics research in an integrated manner.

The release of this book series reflects the wisdom and dedication accumulated over three decades by BusinessSchoolofXiangtan University and Institute of Consumer Economicsin the field of consumer economy research.

Xiangtan University isthebirthplace of consumer economics research in China and remains a key institution in the field. Starting in 1979, the distinguished academic leader Professor Yin Shijie led a cohort of young and mid-career scholars at Xiangtan University in the study of socialist consumer economics. Together, they achieved six national firsts:thefirst to study consumer economics as an independent discipline;thefirst to publish a systematic monograph on consumer economics—Socialist Consumer Economics (1983)—which received the first Sun Yefang Prize in Economic Sciences (1985);thefirst to enroll master’s students in the field of consumer economics;thefirst to establish a Consumer Economics Research Institute (approved by the Hunan Provincial People’s Government in 1984, upgraded to the Institute of Consumer Economics in 2011); andthefirst to launch an academic journal dedicated to consumer economics—Consumer Economics (1985). In recent years, the university has led more than 20 national-level projects focused on the consumer economy, hosted or co-organized more than ten national consumer economics conferences, and submitted more than ten policy advisory reports to promote consumption development. It has also exerted significant influence in building academic communities and serving national and regional consumption development. The Institute of Consumer Economics at Xiangtan University has recently been invited to participate in a research project commissioned by the Ministry of Commerce on Cultivating New Consumption Brand Incubation Bases and is expected to contribute to the top-level design of national new consumption brand incubation.

Han Lei, Dean of theBusiness School, said that the school will continue to build on its traditional strengths in consumer economics, using “big consumption” as a guiding framework and focusing on such areas as restoring and expanding consumption, consumption regulation, red tourism consumption, digital e-commerce consumption, rural consumption, and consumer finance. He said the university will continue organizing the compilation of theReport Series on the Operation of the Consumer Economy in Chinawith distinctive features and strong practical relevance to meet the multidimensional needs of government, businesses, and consumers, and will release the series annually.

Xia Jiechang noted that the 2023 the 2023Report Series on the Operation of the Consumer Economy in China, approaching the topic from different themes and making full use of theoretical deduction, data mining, field research, and case analysis, provides an in-depth portrayal of the current state, characteristics, and trends of China’s consumer economy. He said the series is of great academic value and practical significance for deepening theoretical research in consumer economics and providing policy references for boosting consumption and expanding domestic demand.