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激活消费“主引擎” 释放增长新动能——中国经济年中观察之一
Xin Hua Wang·2025-07-16 10:43

Core Viewpoint - Consumption is identified as the "main engine" of economic growth in China, contributing 52% to economic growth in the first half of the year, with a year-on-year increase of 5% in total retail sales of consumer goods [1][2]. Group 1: Economic Performance - The total retail sales of consumer goods reached 24.55 trillion yuan, with a year-on-year growth of 5%, and a quarterly acceleration to 5.4% in Q2, up by 0.8 percentage points from Q1 [2]. - Service consumption is accelerating, with service retail sales growing by 5.3%, outpacing goods retail sales [3]. Group 2: Consumer Trends - There is a notable increase in demand for upgraded and green consumption, with new consumption models and formats emerging [2][4]. - The popularity of "China Tour" and "China Purchase" is rising, especially with the expansion of visa-free entry policies, leading to a 72.7% and 59.4% year-on-year increase in foreign visitors during the "May Day" and "Dragon Boat" holidays, respectively [7][8]. Group 3: Market Innovations - New consumption modes such as emotional and personalized consumption are gaining traction, with products like the LABUBU plush toy highlighting the potential for emotional consumption [5]. - Various regions are launching initiatives to stimulate consumption, such as night markets and cultural events, enhancing the consumer experience [6]. Group 4: Tourism and Shopping - The number of foreign tourists benefiting from visa-free policies has increased significantly, with Shanghai seeing an 85% year-on-year growth in duty-free sales [7]. - The development of China's transportation infrastructure, particularly the extensive high-speed rail network, is enhancing the travel experience for both domestic and international tourists [8].