The "Total Retail Sales of Consumer Goods and Services" indicator was released for the first time
Xinhua News Agency, Beijing, June 16 (Reporters Pan Jie and Wang Yuxiao) Fu Linghui, spokesperson for the National Bureau of Statistics, said at a press conference held by the State Council Information Office on the 16th that when observing consumption, we must not only look at the consumption of goods but also pay attention to the consumption of services. The National Bureau of Statistics released the "Total Retail Sales of Consumer Goods and Services" indicator for the first time. From January to May, the total retail sales of consumer goods and services increased by 2.8% year-on-year.
As China's development stage changes, consumption scenarios are becoming increasingly diverse, and the demand for service consumption is accelerating its release, becoming an important force driving consumption growth. The retail sales of services have become an important indicator for observing consumption development.
Data show that from January to May, China's retail sales of services increased by 5.4% year-on-year, higher than the growth rate of retail sales of goods. "This change is determined by the laws of economic development and is also an important manifestation of consumption upgrading," Fu Linghui said.
From the characteristics of service consumption, tourism consumption has developed rapidly, driving the growth of transportation consumption. From January to May, the retail sales of tourism consulting and rental services and transportation services maintained rapid growth. Cultural and sports events are heating up, and their driving effect on consumption is becoming increasingly apparent. From January to May, the retail sales of cultural, sports, and leisure services increased by more than 10% year-on-year.
While service consumption maintains a good growth trend, the potential of new types of consumption is also accelerating its release. Online consumption, digital consumption, and green consumption have become new growth points. From January to May, the online retail sales of goods and services increased by 5.9% year-on-year, and the retail sales of high-energy-efficiency household appliances at units above the designated size increased by more than 30%.
"Since the beginning of this year, the consumer market has been running generally stable, the structure has been continuously optimized, and new growth points have been accelerated," Fu Linghui said. However, it should also be noted that residents' consumption capacity and willingness still need to be further enhanced, and market supply in some areas cannot fully meet the needs of consumption upgrading. In this regard, it is necessary to deeply implement special actions to boost consumption, take multiple measures to promote employment and income growth, continuously innovate consumption scenarios, optimize the consumption environment, and better release consumption potential.
