China expects a stable growth in consumption for 2026 based on its robust performance in the first two months of this year, in consideration of its continued upgrading of residents' consumption structure and the growth of new consumption dynamics , said a spokesman for the National Bureau of Statistics (NBS) in Beijing on Monday.
Fu Linghui, the NBS spokesman, said at a press conference that China's economy started 2026 strongly, with retail sales rising.
"This year, spurred by consumption-promoting policies and the extended Spring Festival holiday, market sales have notably rebounded, and the potential for service consumption has been unleashed, and new consumption momentum has strengthened. Key data indicates that in January-February, the total retail sales of consumer goods grew by 2.8 percent year on year, and the retail sales of services increased by 5.6 percent year on year, continuing to outpace goods retail growth," said Fu.
Fu introduced that service consumption in China steadily expanded, driven by increased cultural and tourism spending during the Spring Festival, resulting in significant growth in related services.
In the first two months, retail sales of tourism consulting and rental services, as well as cultural and sports leisure services, both grew rapidly by over 10 percent. During the Spring Festival, nearly 600 million domestic trips were made, with total spending exceeding 800 billion yuan (around 116 billion USD), both record highs. Meanwhile, the expansion of visa-free entry policies boosted inbound tourism, further expanding domestic market sales. Increased gatherings and social activities during the Spring Festival led to a significant increase in dining out, with catering revenue in the first two months increasing by 4.8 percent year on year, a growth rate 2.6 percentage points higher than in December of last year.
Simultaneously, consumer demand for goods has been rising, reflecting consumers' higher quality expectations, said Fu.
In the first two months, retail sales of grain, oil, and food, and of clothes, shoes, hats, and textiles above the designated size increased by 10.2 percent and 10.4 percent, respectively.
The rapid growth in basic necessities was primarily driven by residents' heightened expectations for the quality and grade of the goods they consume. For instance, while overall food consumption remains limited, the increase in sales was largely due to the growing demand for green and healthy products, Fu introduced.
"New types of consumption are developing well. With the increasing momentum of online and digital consumption, online retail sales continued to expand. In the first two months, online retail sales of goods and services increased by 9.2 percent year on year, significantly faster than the growth rate of total retail sales of consumer goods. Among them, online retail sales of goods increased by 10.3 percent, faster than the growth rate of total retail sales of goods, and its driving effect on consumption continues to strengthen. The popularity of online service consumption continued to rise. In January and February, online retail sales of services increased by 7.3 percent year on year, also faster than the growth rate of total service retail sales," said Fu.
In general, the market has shown positive sales growth in January and February, driven by consumption-prompting policies, consumption upgrades, and new consumption drivers, said Fu.
"Looking ahead, the upgrading of residents' consumption structure and the growth of new consumption dynamics will remain important factors influencing consumption growth. The implementation of a series of consumption-boosting policies this year will further boost consumption growth, which is expected to continue its stable growth. However, building a robust domestic market and stimulating inherent consumer motivation will require continuous effort. In the next stage, we will leverage our super-large market advantages, further implement targeted consumption-boosting initiatives, formulate and carry out plans to increase the income of urban and rural residents, promote the expansion and upgrading of commodity consumption, improve the quality of service consumption that benefit the people, continuously optimize the consumption environment, unleash the consumption potential in areas such as culture and tourism, events, and health and wellness, so as to invigorate consumption vitality, better promote economic circulation, and continuously improve people's wellbeing," said Fu.
China expects stable growth in consumption for 2026: NSB official
