Core Insights - China's consumption market showed steady growth in October, with continuous release of consumption potential [1] Group 1: Goods Consumption - In October, retail sales of goods increased by 2.8%, with significant growth in sales of products related to trade-in programs [6] - Retail sales of communication equipment, cultural office supplies, and furniture grew by 23.2%, 13.5%, and 9.6% respectively [6] - Demand for upgraded consumer goods remained strong, with retail sales of gold and silver jewelry, sports and entertainment products, and cosmetics increasing by 37.6%, 10.1%, and 9.6% respectively [6] Group 2: Service Consumption - Service consumption showed good momentum, driven by holiday travel demand, with retail sales in tourism consulting, transportation services, and cultural and recreational services all maintaining over 10% growth [9] - Restaurant revenue grew by 3.8%, accelerating by 2.9 percentage points compared to September [9] - The inbound tourism sector remained robust, with 751,000 foreign visitors during the National Day and Mid-Autumn Festival holidays, marking a 19.8% increase [9] Group 3: Rural and New Consumption - Rural consumption outpaced urban areas, with county-level consumption continuing to expand and lower-tier markets showing strong vitality [14] - New types of consumption grew rapidly, with sales of smart health devices increasing by over 20%, smart wearable devices by approximately 4%, and some first-level energy-efficient appliances by over 10% [14] - Sales of organic food also saw significant growth, exceeding 8% [14]

Economic Performance - In the first ten months of 2025, Sichuan Province's industrial added value above designated size increased by 5.8% year-on-year, which is 0.3 percentage points lower than the national average [1] - The total retail sales of consumer goods reached 2399.04 billion yuan, with a year-on-year growth of 6.0%, surpassing the national growth rate by 1.7 percentage points [1] Key Industries - Among 41 major industries, 31 reported year-on-year growth in added value, with notable increases in the automotive manufacturing sector (17.3%), electrical machinery and equipment manufacturing (13.7%), and computer, communication, and other electronic equipment manufacturing (11.8%) [1] - The chemical raw materials and products manufacturing sector also saw an 11.8% increase, while black metal smelting and rolling processing grew by 10.4% [1] High-tech and Green Industries - High-tech manufacturing and green low-carbon industries maintained strong growth, with significant increases in production volumes for smart TVs (69.2%), lithium-ion batteries (55.9%), industrial robots (46.8%), and automobiles (39.1%) [1] Consumption Trends - The product sales rate for industrial enterprises above designated size was 95.1% [2] - In the consumer market, catering revenue reached 327.52 billion yuan, growing by 3.7%, while retail sales of goods totaled 2071.52 billion yuan, with a year-on-year increase of 6.4% [2] - Online retail sales from enterprises above designated size amounted to 190.83 billion yuan, reflecting a 25.6% growth [2] Investment Overview - Fixed asset investment (excluding rural households) decreased by 0.5% year-on-year, with first industry investment increasing by 10.8% and second industry investment rising by 6.2%, including a 6.3% growth in industrial investment [2] - The third industry investment, however, saw a decline of 3.8% [2]

Economic Overview - In July, the total retail sales of consumer goods increased by 3.7% year-on-year, a decrease of 1.1 percentage points from the previous month [1] - The overall service retail sales remained stable, with a growth of 5.2% from January to July, consistent with the previous six months [1] - The combined retail sales of goods and services for the first seven months showed a preliminary growth of around 5% [1] Consumer Spending Insights - In the first half of the year, final consumption expenditure contributed 52% to economic growth, an increase of 7.5 percentage points compared to the previous year [2] - The consumption expansion trend remains unchanged, supported by special actions to boost consumption [2] Retail Performance - In July, the retail sales of goods reached 34,276 billion yuan, growing by 4.0%, while catering revenue was 4,504 billion yuan, increasing by 1.1% [5] - The "trade-in" policy has positively impacted sales, with significant growth in categories such as home appliances (28.7%), cultural and office supplies (13.8%), furniture (20.6%), and communication equipment (14.9%) [5] - Online retail sales for the first seven months totaled 86,835 billion yuan, with a year-on-year growth of 9.2% [5] Service Consumption Trends - July saw a strong increase in service consumption, particularly in cultural tourism, information services, and digital entertainment [8] - The summer tourism season has led to a 5.5% increase in the production index of transportation, storage, and postal services [9] - The popularity of sports events has significantly boosted local economies, with ticket sales driving related sectors such as dining, transportation, and accommodation [9] Emerging Consumption Patterns - New consumption trends are emerging, with a notable increase in demand for cultural, sports, and entertainment products, reflected in the growth of retail sales in these categories [6] - The search volume for leisure activities has surged, indicating a growing interest in experiences such as beauty services and indoor entertainment [10] - The rise of new consumption modes, including personalized and diversified spending, is becoming more prominent [12] Future Outlook - The service consumption sector is expected to continue growing, with the proportion of service consumption in total consumption increasing [12] - As GDP per capita approaches 1.5 million USD, a shift from goods to service consumption is anticipated, indicating significant growth potential in the service sector [11]