Group 1 - In November, the total retail sales of consumer goods reached 43,898 billion yuan, with a year-on-year growth of 1.3%. Excluding automobiles, the retail sales amounted to 39,444 billion yuan, growing by 2.5% [1] - From January to November, the total retail sales of consumer goods were 456,067 billion yuan, reflecting a growth of 4.0%. Excluding automobiles, the retail sales reached 411,637 billion yuan, with a growth of 4.6% [1] - The recent slowdown in the year-on-year growth rate of retail sales is attributed to a high base from the previous year and the early release of some consumer demand due to ongoing policies promoting the replacement of old goods [1] Group 2 - The expansion of consumption is a strategic priority for economic growth, requiring efforts from both supply and demand sides. The middle-income group in China has reached 400 million, indicating a demand for consumption upgrades [2] - There is a need to enhance the quality and innovation of service supply, particularly as the middle and high-income groups are increasingly shifting towards service consumption [2] - The central economic work conference emphasized the importance of implementing special actions to boost consumption and developing plans to increase income for urban and rural residents [2] Group 3 - The creation of more service industry jobs is essential for long-term economic stability. The productive service industry, which is knowledge and talent-intensive, still requires further development [3] - Addressing the "involution" competition in certain industries is necessary to improve the quality and scale of the productive service sector [3] - To make domestic demand the main driver of economic growth, it is crucial to address the imbalance between strong supply and weak demand, and to promote internal growth through reforms [3]
供需共同发力,持续扩大消费
2 1 Shi Ji Jing Ji Bao Dao·2025-12-15 23:17