The National Bureau of Statistics interprets: From January to July, China's consumer market operated steadily.

On August 17, Yuan Yan, Chief Statistician of the Trade and Economic Department of the National Bureau of Statistics, interpreted the data on the consumption market for January to July. Yuan pointed out that since the beginning of this year, the policies and measures to expand domestic demand and promote consumption have continued to take effect, resulting in a steady expansion of the scale of the consumption market and continuous improvement in development quality. Retail of goods has undergone expansion and upgrades, service retail has innovatively evolved, online retail has maintained rapid growth, and new consumption models and formats have surged with vitality. In the next phase, we must continue to thoroughly implement the decisions and arrangements of the Central Committee of the Communist Party of China and the State Council, coordinate the stabilization of employment and the promotion of income growth, strengthen the synergy and interaction of consumption-promoting policies, adapt to the diversified consumption demands of different groups, expand the supply of quality goods, tap into the potential of service consumption, and promote the consumption market toward improvement and enhancement. The operation of the consumption market remains stable Chief Statistician Yuan Yan interprets the data on the consumption market for January to July Since the beginning of this year, the policies and measures to expand domestic demand and promote consumption have continued to take effect, resulting in a steady expansion of the scale of the consumption market and continuous improvement in development quality. Retail of goods has undergone expansion and upgrades, service retail has innovatively evolved, online retail has maintained rapid growth, and new consumption models and formats have surged with vitality. I. Stable growth in the consumption market, continuous release of service consumption demand From January to July, the total retail sales of consumer goods and services increased by 2.6% year-on-year; among them, the retail sales of services rose by 5.0%, surpassing the growth rate of goods retail sales by 3.9 percentage points. Over the past three years, the growth rate of service retail has consistently outpaced that of goods retail, marking a clear transition of the consumption market from being predominantly focused on goods to emphasizing both goods and services. The demand for consumer goods has become increasingly personalized, diversified, and quality-oriented, making the consumption market richer and more diverse, continuously demonstrating the advantages of our vast market. The cultural, sports, and tourism market remains active. The deep integration of culture, sports, and tourism has accelerated the introduction of new formats and scenarios, leading to rapid growth in related consumption. From January to July, the retail sales of tourism consultation and leasing services, as well as cultural and sports leisure services, each saw growth exceeding 10%. Data from relevant departments indicate that the inbound tourism market continues to heat up. Benefiting from a series of facilitation policies such as visa-free transit, the number of inbound foreigners increased by 20.4% year-on-year in the first half of the year, with the visa-free inbound foreigners growing by 30.6%. In the first half of the year, nationwide box office revenue from commercial performances (excluding performances in entertainment venues) rose by 9.4%. At the same time, numerous sports events have been held across the country, continually creating new hotspots for sports consumption in conjunction with culture, commerce, and tourism. II. Stable expansion of goods sales scale, continuous optimization of urban-rural structure From January to July, the total retail sales of consumer goods reached 287,744 billion yuan, a year-on-year increase of 1.2%; excluding automotive goods, retail sales of consumer goods grew by 2.7%. Affected by extreme weather and other factors, the growth rate of market sales in July fell compared to the previous month, but on a cumulative basis, it remains overall stable. The rural market has grown faster than urban areas. The comprehensive revitalization of rural areas is being solidly promoted, and the rural trade and logistics system is increasingly improved, continuously stimulating consumption potential in rural markets. From January to July, retail sales of consumer goods in rural areas reached 38,459 billion yuan, a year-on-year increase of 2.4%, outpacing the urban market by 1.3 percentage points. It is estimated that the retail sales of consumer goods in counties (including towns and rural areas) accounted for 39.1% of the total retail sales of consumer goods, up by 0.3 percentage points from the same period last year, further optimizing the urban-rural structure of the consumption market. III. Rapid growth of online retail, accelerated innovative development of physical retail The application of new generation technologies such as artificial intelligence and blockchain is accelerating, and regulatory improvements in online transactions continue, facilitating more efficient supply-demand connections in the market and releasing sustained vitality in online consumption. From January to July, online retail sales of goods and services increased by 4.8% year-on-year, including a 5.2% growth in online service retail sales, which is 0.2 percentage points higher than the growth rate of service retail. Online retail sales of goods rose by 4.6%, exceeding the growth rate of goods retail by 3.5 percentage points. New models such as instant delivery are rapidly developing; from January to July, online retail sales of food products grew by 16.9%, with the growth rate accelerating by 0.1 percentage points compared to the first half of the year. New physical retail formats are developing toward quality. Physical retail enterprises are actively undertaking digital transformation, utilizing technologies such as the Internet of Things and big data to streamline sales channels and enhance the consumer experience. From January to July, retail sales of goods achieved through the internet from designated retail units accounted for 28.7% of the total retail sales of consumer goods from these units, increasing by 2.5 percentage points compared to the previous year. New physical formats with rich categories and good experiences have seen rapid growth. From January to July, retail sales of warehousing membership stores and unmanned stores increased by over 25% year-on-year; retail sales in shopping centers continued to grow in double digits; and retail sales of collection stores have accelerated growth for three consecutive months. IV. Stable growth in sales of basic living goods, positive performance of green and smart products From January to July, retail sales of goods increased by 1.1% year-on-year, maintaining the growth rate of the first half of the year. In designated retail units, more than 60% of product categories achieved growth, and nearly 40% of product categories saw growth rates exceeding 5%. Sales of basic living goods showed stable growth, with retail sales of grain, oil, food, beverages, and tobacco and alcohol in designated retail units increasing by 7.2%, 5.6%, and 12.4%, respectively. The implementation of the old-for-new policy has been optimized, and green and smart products have performed well. From January to July, retail sales of high-efficiency appliances in designated retail units grew over 30% year-on-year, slightly accelerating compared to the first half of the year; retail sales of wearable smart devices, including smart glasses, grew over 100%; and retail sales of communication equipment increased by 15.1%, with the growth rate accelerating by 0.7 percentage points compared to the first half of the year. Since the beginning of this year, special actions to boost consumption have been systematically implemented, ensuring the overall stability of the operation of the consumption market in our country. In the next phase, we must continue to thoroughly implement the decisions and arrangements of the Central Committee of the Communist Party of China and the State Council, coordinate the stabilization of employment and the promotion of income growth, strengthen the synergy and interaction of consumption-promoting policies, adapt to the diversified consumption demands of different groups, expand the supply of quality goods, tap into the potential of service consumption, and promote the consumption market toward improvement and enhancement. This article is compiled from the "National Bureau of Statistics" official website, edited by GMTEight: Feng Qiuyi.