Technology Innovation and the Possible Path for Expanding Consumer Demand in China

摘要

"In China, inadequate consumer demand is an outcome of traditional economic growth mode, which used to depending on exports and investment. Since 2008, western states adopted trade protectionism, which hinder China's export, exacerbate inadequate consumer demand, even hamper economic growth in China. Based on the change of international situation and domestic economic problems, Chinese government put forward new normal economic development policy. It focus on structural adjustment in supply side reform. Seen from the economic history of western states, it proved that industrial structure upgrade once became a major driven force to expand consumer demand, which also became a pushing factor to their economic growth. While in the process of industrial structure adjustment, measures of technology innovation such as internet plus, industrie 4.0 are becoming major force to ease the tension between supply and demand which seemed to be a crux in free market mechanism. In the end, some useful proposals for cultivating new technique and pushing them into social production and consumption."