Policy for Continuously Enhancing New Consumption Momentum in China | Consumption | China
CCTV News: Since the beginning of this year, with the recovery of China's economy and the implementation of a series of policies to expand domestic demand and promote consumption, the demand for urban and rural consumption has continued to expand, and new consumption momentum has continued to strengthen.
In the first half of this year, the total retail sales of consumer goods in China reached 22.8 trillion yuan, a year-on-year increase of 8.2%; The per capita consumption expenditure of Chinese residents increased by 8.4% year-on-year, which is 5.9 percentage points faster than the same period last year.
Service consumption is growing rapidly. In the first half of the year, the added value of accommodation and catering industry, wholesale and retail industry, and transportation industry increased by 15.5%, 6.6%, and 6.9% year-on-year, respectively. In the first half of the year, new types of consumption represented by greenization and digitization developed and grew, and new driving forces for consumption continued to strengthen. The sales of new energy passenger vehicles in China increased by 37.3% year-on-year, and the retail sales of low-energy household appliances and audiovisual equipment for units above the quota increased by more than 20% year-on-year; The sales of smart homes, wearable devices, and other products are growing rapidly, and there is a clear trend of improving consumer quality and upgrading.
Recently, a series of policies are being introduced to promote home consumption, automotive and electronic consumption, among others. Multiple departments will work together to optimize the urban and rural consumption environment, increase high-quality consumption supply, and continuously unleash the potential of the super large scale domestic demand market.