China's domestic consumer market has maintained steady growth in the first three quarters of 2024, according to data from the National Bureau of Statistics (NBS).
The Chinese government has actively implemented policies to boost domestic demand and stimulate consumption, including large-scale trade-in subsidies for cars and household appliances.
In September, sales of household appliances and audio-visual equipment experienced a significant increase, with retail sales rising by 20.5 percent year on year. This growth rate is 17.1 percentage points higher than the previous month. Notably, retail sales of high energy efficiency and smart home appliances achieved double-digit growth.
This boost contributed to the overall retail sales of consumer goods in the third quarter growing 0.1 percentage points faster than in the second quarter.
Online consumption demonstrated robust growth, with online retail sales of physical goods increasing by 7.9 percent year on year in the first three quarters, outpacing overall retail sales growth by 4.6 percentage points.
E-commerce accounted for 25.7 percent of total retail sales, an increase of 0.1 percentage points from the January-August period.
New e-commerce models, such as live-streaming promotions and instant retail, also emerged, further driving the expansion of online consumption.
"The in-depth integration of the internet and digital technologies in the consumption sector, facilitated by the blending of online and offline channels, has fostered the rise of domestic 'trendy items' and a variety of new consumption growth points such as green and healthy products. Online consumption has become a new driving force for steady growth in consumption," said Wang Liwei, deputy director of the Development Strategy and Planning Research Office at the Economic Research Institute under the National Development and Reform Commission, China's top economic planner.
China's consumer market expanding steadily
Leaders of seven European countries on Tuesday reaffirmed that Greenland "belongs to its people," stressing that issues concerning Denmark and Greenland must be decided solely by Denmark and Greenland, according to a joint statement.
The statement, released by Denmark's Prime Minister's Office, was signed by Danish Prime Minister Mette Frederiksen, French President Emmanuel Macron, German Chancellor Friedrich Merz, Italian Prime Minister Giorgia Meloni, Polish Prime Minister Donald Tusk, Spanish Prime Minister Pedro Sanchez and British Prime Minister Keir Starmer.
"Greenland belongs to its people. It is for Denmark and Greenland, and them only, to decide on matters concerning Denmark and Greenland," the statement said.
The leaders underscored that Arctic security remains a key priority for Europe and is critical for international and transatlantic security. They noted that NATO has made clear the Arctic region is a priority and that European allies are increasing their presence there.
The statement noted that the Kingdom of Denmark, including Greenland, is part of NATO, and said security in the Arctic must be achieved collectively with NATO allies, including the United States, by upholding the principles of the UN Charter, including sovereignty, territorial integrity and the inviolability of borders.
Calling the United States an "essential partner," the leaders also referred to the 1951 defence agreement between Denmark and the United States.
The Prime Minister of Greenland Jens-Frederik Nielsen said on Tuesday that Greenland is open to dialogue and discussions with the U.S., but "they must take place through the proper channels and in respect of international law."
The PM also urged respect from the U.S. side, saying "Our country is not an object in great power rhetoric." Louisiana Governor Jeff Landry, who was appointed by President Donald Trump last month as the U.S. special envoy to Greenland, said that Trump "supports an independent Greenland with economic ties and trade opportunities for the United States," Reuters reported.
Trump said in a telephone interview on Sunday with The Atlantic that the United States "absolutely" needs Greenland. He also discussed the U.S. intervention in Venezuela.
Since taking office in January 2025, Trump has repeatedly expressed interest in gaining control of Greenland, saying that he would not rule out using "military or economic coercion" to achieve that goal.
European leaders reaffirm Greenland sovereignty, stress Arctic security
European leaders reaffirm Greenland sovereignty, stress Arctic security
