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Education expenditure being 2nd largest component of people's savings
www.chinanews.cn 2005-02-23 15:04:25
According to the "2005: China's Cultural Industry Development Report"
that was released recently by the Chinese Academy of Social Sciences,
future education expenditure has become the second largest component of
urban residents' saving. The cultural and educational expenditure has
grown by 4.4% for China's urban residents and 7.3% for the rural
residents in the past fifteen years, accounting for 12.6% and 11.2%
respectively of the total family consumption. Educational expenditure has
become the second largest component for urban residents after food
expenditure and the third largest for rural residents after food and
housing expenditure.
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