China’s supersized consumption market provides enormous cooperation opportunities for the world: FM

（ECNS）-- China’s consumption market continues to thrive, signaling a robust economic recovery and offering vast opportunities for international collaboration, according to Chinese Foreign Ministry spokesperson Guo Jiakun. As China enters the Year of the Snake, the nation's consumption-related industries are showing impressive growth, reflecting both the country’s structural transformation and the growing confidence in its economy.

Recently, many global financial institutions indicated in their 2025 economic outlooks that China’s high-quality development is gradually yielding fruits, and they expect higher proportions for consumption and the service sector.

According to reports, during the recent Spring Festival holiday, the average daily sales revenue of China’s consumption-related industries increased by 10.8 percent year-on-year, in which goods consumption and service consumption grew by 9.9 percent and 12.3 percent year-on-year respectively and the overall orders for cross-border travel saw a 30-percent growth year-on-year. Citigroup noted in a report that “China had a solid start to the Year of the Snake.”

In response, Chinese Foreign Ministry Guo Jiakun said at a regular press conference on Thursday that during the Spring Festival of the Year of the Snake, China witnessed a burgeoning consumption market with record-setting sales revenues in “Guochao,”or trendy merchandise inspired by traditional Chinese culture, intangible cultural heritage experience, ice and snow economy, and consumer goods trade-in programs. New consumption models kept emerging driven by digital transition and technological development.

China’s consumption market is going through a profound transformation from quantitative growth to qualitative progress, he said, adding that “we saw strong supply and demand of imported products for the Spring Festival. More Chinese people went abroad and more foreign travelers visited China. China’s supersized consumption market provides enormous cooperation opportunities for countries around the world.”

Guo said the booming and thriving consumption market in China reflects not just the rebound of demand, but also greater confidence of all sectors in the Chinese economy. It speaks to the defining feature of the Chinese economy characterized by continued structural improvement, greater internal driving force and stronger resilience for development.

“With a package of incremental policies being rolled out and implemented, China will inject stronger confidence and impetus to global economic growth through its high-quality development and high-standard opening up,” he concluded.