Newly released tax data for the first 11 months of 2025 has pointed to steady growth momentum in China's economy, featuring a rise in consumption bolstered by a series of pro-consumption policies, including an expanded consumer goods trade-in program.
According to tax data released by the State Taxation Administration (STA) on Monday, the consumer goods trade-in program has spurred sales of a wide range of commodities, including telecommunication products and household appliances, with respective retail revenues from the two categories rising 20.3 percent and 26.5 percent year on year in the first 11 months.
The consumption of new energy vehicles also continued to improve, with sales revenue of new-energy passenger vehicles increasing 19.1 percent year on year.
In addition, new forms and scenarios in culture and tourism have continued to thrive, unleashing consumption vitality, according to the SAT.
"In the first 11 months, sales revenue from artistic creation and performances rose 15.6 percent year on year, while revenue related to film screenings increased 19.1 percent. Integrated with tourism, these activities have helped fuel immersive and scenario-based travel consumption, with sales revenue at travel agencies and related services up 10.8 percent, scenic and historic sites up 29.4 percent, and leisure and sightseeing activities up 16.6 percent. By effectively combining local characteristics with personalized services, homestays have better met consumer demand, achieving a 13.1 percent year-on-year growth in sales revenue," Rong Hailou, spokesman for the STA, told a regular press conference on Monday.
Additionally, the sports and health sectors have shown strong consumption momentum. Official data showed that in the first 11 months this year, revenue from sports exhibition services and retail sales of sports goods and equipment respectively rose 29.7 percent and 6.6 percent year on year.
Health-related consumption has remained as a key consumption hotspot. Retail sales of health-support and auxiliary treatment equipment increased 14.1 percent year on year in the first 11 months, and sales revenue from health consultation services rose 11.9 percent over the same period.
"The rising consumption demand among the elderly population has driven diversified and sustained growth in the elderly care service sector. Tax data showed that in the first 11 months, spending on elderly and disabled care services climbed 33.6 percent year on year, while consumption in social care and assistance services grew 9.6 percent, and sanatorium services rose 14.6 percent," said Rong.
Tax data in first 11 months show resilience, vitality of China's consumer market
