消费“主引擎”提振发力（锐财经·年中经济观察⑦）

Core Viewpoint - The consumption market in China has shown significant growth in the first half of the year, driven by various policies and trends, with a notable contribution to economic growth. Group 1: Consumption Market Performance - In the first half of the year, the total retail sales of consumer goods exceeded 24.5 trillion yuan, with a year-on-year growth of 5.0% [4][5] - The retail sales in the second quarter grew by 5.4%, accelerating by 0.8 percentage points compared to the first quarter [4] - The contribution rate of consumption to economic growth reached 52% [4] Group 2: Service and Upgrade Consumption - Service retail sales increased by 5.3% year-on-year, outpacing goods retail sales by 0.2 percentage points [4][6] - The "old-for-new" consumption policy has stimulated demand, with significant growth in categories such as home appliances and automobiles, with retail sales of home appliances up by 30.7% [6] - The retail sales of new energy vehicles surpassed 5 million units, marking a growth of 33.3% [6] Group 3: Online Retail and New Consumption Trends - Online retail sales grew by 8.5% year-on-year, with the proportion of physical goods sold online reaching 24.9% of total retail sales [7] - New consumption models, including personalized and emotional consumption, are emerging, indicating a vibrant market [7] Group 4: Future Consumption Outlook - The outlook for consumption growth remains positive, supported by ongoing policy initiatives and a stable GDP per capita above $13,000 [8] - There is significant potential for growth in sectors such as cultural tourism, healthcare, and elderly care, given the large population [8] - The disparity in consumption levels between urban and rural areas presents further growth opportunities [8]