| 摘 要： | Statistics show that China‘s low-income groups or regions have a higher marginal propensity to consume out of income than do high-income groups. Contrary to this general observation,however, Chinese farmers‘ consumption rate is persistently lower than that of the urban residents for most time periods. Even with equivalent income, the farmers‘ consumption rate is still low compared with that of urban residents. The most deeply rooted reasons are government industrialization policies and relevant institutional arrangements, which have been extensively discussed by a wide range of scholars and thus will not be explored here.This paper will concentrate on the multiple factors that have directly caused this long-term phenomenon: low cash income of the farmers, uncertainty of income expectation, underdeveloped consumption infrastructure, and a traditional mentality which embraces austerity.
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