Ministry of Commerce: Service retail sales increased by 5.4% from January to May, overall steady in commodity consumption.

According to the Wisdom Finance APP, on June 22, the person in charge of the Consumer Promotion Department of the Ministry of Commerce talked about the situation of China's consumer market in May 2026. With the optimization and upgrading of the structure of China's consumer market, residents' consumption is shifting from being mainly focused on goods to a balance between goods and services. From January to May, the total retail sales of social consumer goods and services increased by 2.8% year-on-year; the total retail sales of consumer goods reached 20.6 trillion yuan, a growth of 1.4%, with the retail sales of consumer goods excluding automobiles growing by 2.7%; the retail sales of services increased by 5.4%. The overall consumption of goods is stable; the momentum of service consumption is good; there is a strong demand for new types of consumption; and rural consumption is steadily increasing.