Ministry Of Commerce Press Conference: China'S Consumer Market Shows A Steady Recovery Trend

At a regular press conference held by the Ministry of Commerce on the 17th, Gao Feng, a spokesman, said that since this year, China's consumer market has shown a steady recovery.

Basic living consumption remained stable. In terms of category, the retail sales of grain, oil, beverage and daily necessities of units above the quota increased by 7.9%, 11.4% and 10.7% respectively over the same period of last year. In terms of business types, the retail sales of convenience stores closely related to daily life increased by 12.8% year on year.

The sales of upgrading products increased rapidly. The retail sales of gold, silver, jewelry, household appliances, and cultural and office supplies of units above the quota increased by 19.5%, 12.7% and 11.1% respectively over the same period of the same period. The Beijing Winter Olympics has driven ice and snow consumption, and the sales of ice and snow sports goods on some e-commerce platforms have increased by more than 50%.

Food and beverage consumption recovered quickly. The growth rate of catering revenue was 2.4 percentage points faster than that of retail sales. Among them, the catering income of units above the quota increased by 10.1% year on year.

New consumption is developing rapidly. Online retail sales of physical goods increased by 12.3% year-on-year, accounting for 22% of the total retail sales of consumer goods. The sales volume of new energy vehicles increased by 1.5 times on a year-on-year basis, accounting for 17.9% of new vehicle sales.

Consumer prices were generally stable. From January to February, consumer prices rose by 0.9% year-on-year, with food prices falling by 3.8%.

Gao Feng, spokesman of the Ministry of Commerce: the recent domestic epidemic has been frequent, which has brought some constraints to the recovery of consumption in relevant regions. But on the whole, China's consumer market has strong resilience and great potential, and the overall situation of consumption scale expansion and consumption structure upgrading has not changed. With the sustained and stable recovery of China's economy and the gradual implementation of policies and measures to promote consumption by expanding domestic demand, consumption will continue to maintain the recovery and development trend.

(source: CCTV news client)