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
Serbian officials and scholars expect that President Aleksandar Vucic's visit to China will further cement the ironclad friendship between the two countries and open up new avenues for cooperation.
At the invitation of President Xi Jinping, Serbian President Vucic arrived in Beijing on Sunday for a state visit to China from May 24 to 28. During the visit, the two heads of state will exchange views on bilateral relations, as well as international and regional issues of mutual interest.
As the first European country that has agreed to jointly build a community with a shared future for the new era with China, Serbia is an important partner for China in Southeast Europe. According to high-level Serbian officials, the partnership could expand even further.
"I think that the most important one, apart [from] the infrastructure, will be scientific cooperation and widening the existing cooperation in each field, from infrastructure to culture. Our anchored friendship could become a role model for everyone else," said Marina Ragus, deputy speaker of Serbia's National Assembly.
Bojan Lalic, director of the Belt and Road Institute in Belgrade, anticipates that actions following the two presidents' discussions can bring stability to Serbia's economic and industrial development.
"We expect President Vucic and President Xi to have fruitful discussions, but also some following steps that will bring stability to our economy, to our industry. I truly believe that when speaking about the future, we are speaking about young people, (which) means education, research, science -- those are fields that I believe are fundamental for our exchange, for our future cooperation, and for our win-win achievements and success," said Lalic.
Ljubodrag Savic, a professor at the Faculty of Economy of the University of Belgrade, highlighted the importance of growing trade between the two countries. Since the signing of a bilateral free trade agreement in 2023, exports from Serbia to China nearly doubled, from 1.2 billion U.S dollars the year the agreement was signed to 2 billion U.S. dollars in 2025.
"China treats all countries equally, regardless of their size or so-called importance, maintaining friendly relations with countries around the world. The free trade agreement signed between Serbia and China grants Serbia preferential treatment. Most Serbian products can be exported to China almost duty-free. China is a truly valuable friend to Serbia," said the professor.
Serbian experts predict fruitful outcomes from Vucic's visit to China
