China's consumer market heats up with various stimulus policies

China's consumer market has maintained a steady upward trajectory in the first quarter, driven by various consumption stimulus policies and indicating the acceleration of consumer potential unleashing, according to the latest data from the country's State Information Center (SIC).

In the first quarter of this year, the offline consumption index, compiled by the State Information Center under the National Development and Reform Commission (NDRC), rose by 14.2 percent year-on-year, marking a 9.1-percentage-point rise from the previous quarter.

Meanwhile, the index tracking the small goods market saw a 16.3 percent year-on-year increase in the first quarter, with March alone experiencing a remarkable 21.6 percent growth compared to last year. This marks a strong and sustained demand for small goods closely tied to everyday life as public consumption demands continue to grow.

In the first three months of 2025, consumption in life services continued to grow, with the index tracking its performance registering an 18.3 percent year-on-year increase, up 7.4 percentage points from the previous quarter. Notably, March saw a 14.5 percent year-on-year rise.

By sector, the leisure and entertainment industry saw a 67.6 percent year-on-year increase, while the catering industry grew by 14.5 percent compared to the same period last year.

The ongoing three-day Qingming Festival holiday has fueled the consumption boom, with people's travel enthusiasm rising.

Data from the State Information Center's internet search trends showed a more than fourfold increase in searches for keywords related to the three-day Qingming Festival travel and flower viewing.

Additionally, diverse consumption scenarios emerged during the holiday, injecting new vitality into the consumer market.

Qingming Festival, a day for tomb sweeping which falls on April 4 this year, is a traditional Chinese occasion where people return to their hometowns and pay respect to their ancestors and deceased family members. It also marks a peak season for spring outings. This year, the holiday runs from April 4 to 6.

China's consumer market heats up with various stimulus policies

The United Kingdom and France will host a multinational defense ministers' meeting on Tuesday to discuss plans for restoring shipping in the Strait of Hormuz, according to a statement by the UK Ministry of Defense on Monday.

According to the statement, UK Defense Secretary John Healey will co-chair the online meeting with his French counterpart Minister Catherine Vautrin, with representatives from more than 40 countries participating.

This marks the first ministerial-level meeting for this multinational operation.

According to a report by Bloomberg on Monday, participating countries are expected to discuss issues such as providing mine-clearing, escort, and air patrol capabilities.

This will be the third meeting of the so-called multinational escort operation in the Strait of Hormuz led by France and the UK.

On April 17, French President Emmanuel Macron and UK Prime Minister Keir Starmer said in Paris that the two countries would lead a defensive multinational operation to ensure the safety of shipping in the Strait of Hormuz when conditions permit.

On April 22, the two countries hosted a two-day multinational military planning conference in London to advance the development of plans related to the restoration of navigation in the Strait of Hormuz.

On May 6, Macron said that he had proposed to Iran's President Masoud Pezeshkian that Iran consider agreeing to the multinational escort operation in the Strait of Hormuz led by France and the UK.

Macron described the escort mission as neutral in nature and independent of the warring parties, saying that Europe would play its due role in regional hotspot issues such as the freedom of navigation in the Strait of Hormuz.

Since the United States and Israel launched military strikes against Iran in late February, Washington has repeatedly pressured European countries to join a Hormuz escort coalition to control the Strait of Hormuz, but many European nations have refused.

UK, France to convene meeting on restoring shipping in Strait of Hormuz