China has seen relatively rapid growth in market sales, characterized by the unleashing of service consumption potential, and continued enhancement of consumer market vitality, said a spokesman of the National Bureau of Statistics (NBS) on Monday.
According to data from the NBS, driven by the Labor Day and Dragon Boat Festival holiday, the year-on-year growth rate of total retail sales of consumer goods in May increased by 1.3 percentage points compared to the previous month.
Meanwhile, the year-on-year growth rate of retail sales of services from January to May accelerated by 0.1 percentage point compared to the January-April period, indicating a relatively rapid growth in market sales.
"Overall, the economy has maintained stable operation, with the effects of policies on consumer goods trade-ins becoming increasingly evident and consumer market vitality gradually strengthening. Looking ahead, new modes and forms of consumption such as livestream marketing and instant-delivery online retail have become increasingly matured, while the silver economy, the debut economy, and the low-altitude economy are rapidly developing, continuously creating new growth drivers for the consumption economy," said Fu Linghui, the NBS spokesman, at a press conference in Beijing.
China unleashes service consumption potential, boosts consumer market vitality
China unleashes service consumption potential, boosts consumer market vitality
