According to the Ministry of Commerce, China's consumer market showed steady growth and improvement during the first two months of the year. The Ministry implemented policies to stimulate spending, including special Spring Festival promotions and programs to encourage trade-ins of consumer goods. These measures, combined with an extended holiday period, supported robust consumption growth.
From January to February, total retail sales of consumer goods reached 8.61 trillion yuan, a year-on-year increase of 2.8%, accelerating by 1.9 percentage points compared with December last year.
Goods consumption remained generally stable. Retail sales of goods rose 2.5% during the period, with nine out of 16 major categories of goods recording growth rates above 5%. Sales of daily necessities grew rapidly, with clothing, footwear, and hats, grain and oil foods, daily necessities, and beverages sold by larger enterprises increasing by 10.4%, 10.2%, 6.6%, and 6.0%, respectively. Demand for premium goods also remained strong, with sales of gold, silver, and jewelry, cosmetics, and sports and recreation goods rising by 13.0%, 4.5%, and 4.1%.
Holiday spending demonstrated strong momentum. During the Spring Festival holiday, average daily sales at major retail and catering enterprises nationwide increased by 5.7% compared with the same period last year, up 1.6 percentage points. Foot traffic and revenue at 78 monitored business districts grew by 6.7% and 7.5%, respectively. International tourism also gained popularity, with inbound travel bookings on key platforms rising 18.4%.
Experience-driven consumption grew at a faster pace. Extended holidays and greater willingness to travel contributed to rapid growth in tourism, leisure, and related services. From January to February, retail sales of services increased by 5.6%, 0.1 percentage point higher than the full-year growth rate in the previous year. Catering revenue rose 4.8%, while tourism consulting, leasing services, and cultural and sports entertainment services all recorded double-digit growth.
Smart and green product sales saw strong demand. Trade-in policies for consumer goods significantly boosted sales of intelligent and energy-efficient products. Retail sales of communication equipment, cultural and office goods, and home appliances increased by 17.8%, 5.8%, and 3.3%, respectively. According to commercial data, sales of smart glasses on major platforms surged 180%, while embodied AI robot sales rose 13%, and sales of top-tier energy-efficient refrigerators grew 8.1%.
Rural consumption outpaced urban growth. County-level and rural markets continued to expand, with retail sales in rural areas increasing by 3.2%, 0.5 percentage point higher than urban growth. Retail sales in towns and villages accounted for 38.5% of total retail sales, up 0.1 percentage point year-on-year.
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