Retail sales of consumer goods in China hit 50.1 trillion (about 7.2 trillion U.S. dollars) yuan last year, with a year-on-year growth of 3.7 percent, commerce ministry spokesperson He Yongqian said Thursday at a press conference in Beijing.
"In 2025, China's consumer market maintained stable development, achieving improvements in both scale and quality, with the advantages of its super-large consumer market continue to emerge. The total retail sales of consumer goods exceeded 50 trillion yuan for the first time, reaching 50.1 trillion yuan (about 7.2 trillion U.S. dollars), a growth of 3.7 percent compared to the previous year. The contribution rate of final consumption expenditure to economic growth was 52 percent," she said.
He said the ministry expanded its trade-in programs for consumer goods last year, which supported 366 million purchases amounting to 2.61 trillion yuan (about 375 billion U.S. dollars). The programs also promoted a consumption upgrade characterized by consumer preference for green and intelligent products.
"Green and smart consumption, among other new forms of consumption, flourished in 2025. Last year, retail sales of new energy vehicles increased by 17.6 percent. The number of consumers purchasing top-tier energy efficiency or water efficiency home appliances grew by 20 percent compared to the previous year, while sales of smart glasses, smartwatches, and smart wristbands all increased by over 40 percent," said the spokeswoman.
The ministry will continue its efforts to invigorate consumer spending and will ensure that promotion programs benefit the people, she added.
China's 2025 retail sales exceed 50 trillion yuan: spokesperson
China's two major power grid operators -- the State Grid Corporation of China (State Grid) and China Southern Power Grid (CSG) -- reported a surge in investment in the first quarter of 2026, underscoring efforts to strengthen infrastructure construction and support high-quality socioeconomic development in China.
The State Grid said it completed fixed-asset investment worth 129 billion yuan (about 18.77 billion U.S. dollars) in the first three months of this year, up 37 percent the corresponding period of the previous year. The spending has driven more than 250 billion yuan (36 billion U.S. dollars) of investment across the wider industrial chain.
Key projects such as the Panxi ultra-high-voltage (UHV) alternating current (AC) line and the Anhui-Hubei back-to-back direct current (DC) project have seen ground broken for their construction, while several west-to-east power transmission projects have been upgraded.
Investment in connecting renewable energy generation to the grid was reported to have exceeded 10 billion yuan (1.45 billion U.S. dollars) from January to March, a year-on-year rise of more than 50 percent.
The CSG also reported robust growth in investment in the three-month period, with fixed-asset investment reaching 38.45 billion yuan (5.58 billion U.S. dollars), up about 50 percent from a year earlier.
Among its achievements, the company completed and commissioned 80 key projects, including the 220 kV cross-sea power grid interconnection project, which was officially put into operation on March 20. The project ended years of grid isolation on the Weizhou Island in south China by linking it to the main power system of the Guangxi Zhuang Autonomous Region.
The construction of 17 other major energy projects, including one linking the power grid of the Xizang Autonomous Region in southwest China with that of Guangdong Province in south China, is advancing rapidly. These projects are expected to bolster regional industries, the maritime economy, digital collaboration and the transition to green energy.
"By accelerating major project construction, investment during the 15th Five-Year Plan period (2026-2030) is expected to approach 1 trillion yuan (145 billion U.S. dollars), driving a further 2 trillion yuan (290 billion U.S. dollars) of investment across upstream and downstream industries," said Dong Yanle, deputy general manager of the Engineering Construction Department under the China Southern Power Grid.
China ramps up power grid investment in January-March to boost growth
