China expects sustained consumption recovery

2022-09-30 07:44:33Xinhua Editor : Li Yan ECNS App Download

China's consumer market is in a sound trend of development and is likely to see continuous recovery in the next stage, a spokesperson with the Ministry of Commerce (MOC) said Thursday.

The country's retail sales of consumer goods rose 5.4 percent year on year in August, up 2.7 percentage points from July, MOC spokesperson Shu Jueting told a regular press conference.

Big-ticket consumption saw sustained growth. For example, major companies' retail sales of automobile and home appliance products climbed 15.9 percent and 3.4 percent year on year, respectively last month, continuing the upward trend since June, Shu said.

Shu also highlighted the steady expansion of online consumption and the gradual recovery of service consumption, noting that online retail sales of physical goods went up 5.8 percent year on year in the first eight months of 2022, while catering revenues logged 8.4-percent year-on-year growth in August.

China's policies on stabilizing growth and promoting consumption have effectively boosted the consumer market recently, Shu said, adding that more efforts will be made to further promote consumption recovery.

The ministry will focus on promoting consumption in key fields including automobile, green and intelligent home appliance as well as catering and accommodation, among others.

It will create new scenarios of consumption through digital empowerment and the integration of business, tourism, culture and sports, make good use of consumption platforms, such as consumption festivals and expos, and promote the development of new business forms, Shu said.

Measures will also be taken to build county-level commercial systems, improve the supply chain for agricultural products, and accelerate the development of centers for international consumption. 


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