Page 40 - CCFA Journal - Tenth Issue

经济论坛 Economics Forum
第三，积极倡导第三次分配，改善居民部门内部的收入
结构，提高中低收入群体的收入占比。我国居民收入结
构中，高收入群体的收入占比过高现象长期存在，从国
家统计局公布的数据看，占总人口前20%的高收入组的人
均水平超过后20%低收入组十倍以上，故发展社会慈善事
业、鼓励富裕阶层捐款非常必要。
我国目前社会捐款规模占 GDP 的比重与全球平均水平相
比，差距非常大，如根据中国慈善联合会公布的数据，
2020 年，我国共接收境内外慈善捐赠 2250 多亿元人民币，
比 2019 年大幅增长 38.21%，但占 GDP 总额仅有 0.21%，
不足美国的十分之一，而且主要捐给教育事业，对低收
入家庭的帮助不大。但从增速看，未来发展慈善事业的
空间很大。通过促进第三次分配规模扩大的方式，可以
提高中低收入群体的收入水平，从而促进消费。
总之，提高居民可支配收入占 GDP 的比重，增加中低收
入群体的收入水平，藏富于民，大幅提高对老年人口的
养老保障水平，就能够发挥消费在经济发展中的基础性
作用。在防疫政策优化的背景下，不仅能够改变需求收
缩的现状，还可以提振信心、扭转预期转弱局面。如果
国家把更多的财政资源向居民部门倾斜，比向企业部门
倾斜更符合底层逻辑，更有利于稳增长的可持续性。目
前，与西方国家相比，中央政府的20%左右杠杆率水平并
不高，在老龄化加速的背景下，具备充分提高杠杆率水
平的空间。
CCFA JOURNAL OF FINANCE
Page 40 第40页
加中金融
Third. We should actively advocate improving the income
structure within the residential sector and increase the
income share of the middle- and lower- income groups.
According to data released by the National Bureau of Statistics,
the per capita level of the high-income group, which accounts
for the top 20% of the population, is more than ten times that
of the low-income group in the bottom 20%, so it is essential
to develop social philanthropy and encourage the wealthy to
donate.
The current level of social donations in China as a percentage
of GDP is far from the global average, for example, according
to data published by the China Charity Federation, in 2020,
China received a total of more than RMB 225 billion in
charitable donations, both domestic and foreign, a significant
increase of 38.21% over 2019 but accounting for only 0.21%
of total GDP, less than one-tenth that of the United States.
Most of this goes to education, which does not help low-
income families. However, in terms of growth rate, there is
plenty of scope for developing philanthropy in the future.
Boosting the income levels of the lower- and middle- income
groups will also boost consumption.
In short, by increasing the proportion of disposable income to
GDP, increasing the income levels of the lower- and middle-
income groups, leaving wealth with the people, and
significantly increasing the level of pension protection for the
older population, the fundamental role of consumption in
economic development can be brought into play. Against the
backdrop of optimized post pandemic policies, it will not only
improve demand, but also boost confidence and reverse
expectations of a weakening economic situation. It would
improve the sustainability of steady growth if the state tilted
more financial resources toward the residential sector than
toward the corporate sector. Currently, the central
government's leverage level of about 20% is not high
compared to Western countries, and can increase leverage
levels sufficiently in the context of accelerating aging.
March 2023