Analysis on the Feasibility of China's "Vendor Economy" under the New Economic Condition

Vendor economy, also called street economy, which is often considered as the main income sources for street vendors and was regarded as marginal economy, has grown into a type of economic form. From the perspective of total social wealth, it jump-starts the economy, stimulates people's consumption desire and provides more employment opportunities, which drives a sharp increase in social total consumption, according to a research report analyzed from 2007 to 2017 by the Northeast Securities. During the ten years, China's economic policy is to encourage and support street vendors, and because of this, consumption plates are shown in a more obvious rise in profits, but it also has brought about some negative effects. On the basis of the characteristics and roles of the vendor economy, this paper analyzes its feasibility under the new economic condition through the comparison of its advantages and disadvantages. In addition, some suggestions are put forward to Chinese government and the street vendors.