消费数据超越上海，这个西部城市凭什么？

Core Viewpoint - Chongqing has surpassed Shanghai in social retail sales, becoming the city with the highest consumption total in China, with a retail sales total of 538.54 billion yuan in the first four months of 2025, a year-on-year increase of 4.4%, while Shanghai's retail sales decreased by 0.3% to 535.55 billion yuan [1][2]. Group 1: Consumption Data Comparison - In the first four months of 2025, Chongqing's retail sales reached 538.54 billion yuan, while Shanghai's was 535.55 billion yuan, marking a significant shift in consumption dynamics [1][2]. - Chongqing's retail sales have consistently outperformed Shanghai since the beginning of the year, with figures of 283.18 billion yuan in January-February, 420.43 billion yuan in the first quarter, and 538.54 billion yuan in the first four months [1][2]. Group 2: Factors Contributing to Chongqing's Growth - The increase in Chongqing's retail sales is attributed to its large population base and recent consumer stimulus policies that are more appealing to middle and low-income families [2][6]. - Chongqing's lower housing price-to-income ratio compared to first-tier cities has led to stronger consumer willingness and spending [3][6]. - The city's status as a popular tourist destination has also contributed to increased consumption, with significant tourist inflows during holidays [7][8]. Group 3: Historical Context and Future Outlook - Over the past five years, Chongqing's consumption market has shown robust growth, with retail sales reaching 1567.74 billion yuan in 2024, ranking second among China's major consumption cities [4][6]. - Chongqing's retail sales growth is supported by a release of consumer potential and policy benefits, particularly for its large middle and low-income population [6][9]. Group 4: Comparative Analysis with Shanghai - Despite Chongqing's current lead in total retail sales, it still lags behind Shanghai in per capita consumption expenditure, with Shanghai at 14,047 yuan compared to Chongqing's 7,335 yuan [9][10]. - Shanghai maintains a higher concentration of global retailers and hosts numerous brand launch events, indicating a more mature consumption ecosystem [10][13]. - The international appeal of Shanghai's consumer market is also stronger, with a significant number of inbound tourists compared to Chongqing [13]. Group 5: Policy Initiatives - Chongqing has initiated a plan to enhance its consumption capabilities, aiming for a retail sales growth rate of 5% by 2025, focusing on upgrading consumption and expanding service sectors [14][16]. - Shanghai has also launched its own consumption enhancement plan, prioritizing income growth for urban and rural residents and implementing measures to improve consumption quality [16].