The Impact of Housing Support Expenditure on Urban Residents' Consumption-Evidence from China

Consumption plays an important role in economic growth and sustainable economic development. The Chinese government emphasizes the theme of promoting high-quality development. This aim has led to the implementation of strategies to expand domestic demand through a deep structural reform in the supply chain, enhance the endogenous power and reliability of the large domestic cycle, improve the quality and level of the international cycle, and accelerate the construction of a modern economic system. Based on the clarification of the consumption effect of housing support expenditure, this paper uses a combination of theoretical and empirical analysis to clarify the relationship between housing support expenditure and urban residents' consumption. This is carried out to seek a breakthrough point for raising the total level of urban residents' consumption expenditure in China from the level of housing support. This study revealed that government housing support has a certain degree of influence on the total level of urban residents' consumption expenditure and that the government's support of housing support is conducive to improving the total level of urban residents' consumption expenditure. Also, if the housing price is not controlled and adjusted, the effect of government housing support on urban residents' consumption expenditure will be greatly reduced, which will affect the lives of urban residents in the long run. Finally, suggestions and countermeasures for improving the overall level of urban residents' consumption and the sustainable development of the social economy in China are provided.