消费“热”起来、经济“跑”起来 消费市场扩容、提质、焕新亮点持续显现

Core Insights - Consumption is identified as the "main engine" of economic growth and a "barometer" of people's well-being during the "14th Five-Year Plan" period [1][7] - The total retail sales of consumer goods in China are projected to grow from 39.1 trillion yuan in 2020 to 48.3 trillion yuan in 2024, with an average annual growth rate of 5.5% [1][9] - By 2025, the total retail sales are expected to exceed 50 trillion yuan, contributing approximately 60% to economic growth annually [1][7] Consumption Trends - The "14th Five-Year Plan" emphasizes the need to align consumption expansion with improvements in people's quality of life, promoting green, healthy, and safe consumption [3][7] - The number of new energy vehicles is expected to increase 5.4 times from 2020 to 2024, with a penetration rate exceeding 50% by the first half of 2025 [3][9] - Service consumption is growing rapidly, with an average annual increase of 9.6% from 2020 to 2024, outpacing goods consumption [3][15] Market Dynamics - China's online retail sales remain the highest globally, and the sales of new energy vehicles continue to lead worldwide [5][9] - The consumption market is characterized by expansion, quality improvement, and innovation, enhancing its role as a stabilizer for the economy [7][9] - The current consumption landscape reflects a strong supply-demand match, driven by changes in consumer preferences and upgrades in manufacturing [11][17] New Consumption Models - New consumption models such as "digital + consumption" and "artificial intelligence + consumption" are experiencing robust growth [14] - The integration of online and offline shopping experiences is becoming more prevalent, with innovations like live-streaming sales and virtual reality shopping gaining traction [15][17] - The share of service consumption has surpassed 45%, showing a significant increase compared to the end of the "13th Five-Year Plan" [15]