The head of the Consumption Promotion Department of the Ministry of Commerce discusses the situation of China's consumption market in the first half of 2025

Wallstreetcn
2025.07.21 08:55

First, the market scale is steadily expanding, and the role of consumption as the main engine is becoming more prominent. According to data from the National Bureau of Statistics, the total retail sales of consumer goods in the first half of the year reached 24.55 trillion yuan, a year-on-year increase of 5.0%, with the growth rate accelerating by 1.5 percentage points compared to the entire last year. The contribution rate of final consumption expenditure to GDP growth reached 52%, fully demonstrating its role as the main engine of economic growth. Analyzing by quarter, the total retail sales in the second quarter increased by 5.4% year-on-year, with the growth rate accelerating by 0.8 percentage points compared to the first quarter. By type of consumption, the retail sales of goods in the first half of the year increased by 5.1% year-on-year, while service retail sales grew by 5.3%

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