Economic Performance - China's GDP grew by 5.2% year-on-year in the first three quarters of 2025, demonstrating resilience in a complex environment [1] - Final consumption expenditure contributed 53.5% to economic growth, an increase of 9.0 percentage points compared to the previous year [1] Consumer Market Dynamics - Domestic consumption market shows a positive trend with both quantity and quality improving, driven by policies like the trade-in program and the rise of new consumption patterns [1][2] - Retail sales of consumer goods increased by 4.5% year-on-year, indicating a shift from scale expansion to quality enhancement in consumption [2] - Rapid growth in online retail sales of physical goods highlights the importance of digital technology in driving consumption upgrades [2] Service Consumption Growth - Retail sales in the service sector grew by 5.2%, outpacing goods retail sales by 0.6 percentage points, reflecting a shift in consumer focus from material satisfaction to spiritual enjoyment [3] - The recovery of the cultural and tourism market is a key driver of service consumption growth, with increased activity in rural homestays and cultural venues [3] Demand-Side Strategies - Optimizing income distribution is crucial for solidifying the foundation for consumption growth, with a focus on increasing labor compensation and reducing income disparities [4] - Enhancing the social security system is essential to stabilize consumer confidence and expectations [4] Supply-Side Strategies - Innovating consumption scenarios and optimizing policy support are necessary to expand consumption growth space, with an emphasis on developing new business formats and enhancing cultural tourism [5][6] - Improving supply-side capabilities to better match consumer upgrade demands is vital, including supporting traditional industries in their transition to smart and green practices [6]