It's way past time to stop calling China the world's factory. The country is increasingly the world's consumer.

将中国称为世界工厂早已不合时宜。我国正日渐成为世界消费者。

According to the latest official data, China's final consumption accounted for 63.4% of gross domestic product.

最新官方数据显示，中国最终消费占国内生产总值的63.4%。

Household consumption experienced exponential growth and climbed to $4.5 trillion. Retails¹ sales have been growing at healthy pace of about 10%.

家庭消费出现迅猛增长，增至4.5万亿美元。零售销售额以约10%的增速稳步上升。

Chinese consumers are becoming older and richer, generating an upgrade in the products they purchase.

中国消费者已越来越成熟也越来越富裕，其购买的产品也在不断升级。

First, there has already been a shift from necessities to choice goods.

首先，人们已从购买生活必需品转向购买精品。

Second, low-end mass products are out and high-end premium² brands are in.

其二，低端的大众商品正退出市场，而高端的品牌产品正在涌入。

And third, consumers will spend less on a relative basis on physical goods and more on experiences and services, including health care, box office, education, concerts, financial planning and tourism (both domestic and overseas).

其三，消费者将相对减少对有形商品的支出，而增加体验和服务方面的支出，包括医疗保健、票房、教育、音乐会、财务规划和国内外旅游。

As China's expansion increasingly depends on consumption, its growth will be more internally driven.

随着中国的发展越来越依赖消费，其增长将越来越受到内在的驱动。