Official from MOFCOM’s Department of Consumption Promotion Comments on China’s Consumer Market Performance in the First Three Quarters of 2026

Full English News Text

October 23 (MOFCOM) – An official with the Department of Consumption Promotion of the Ministry of Commerce (MOFCOM) briefed reporters on China’s consumer market performance in the first three quarters of 2026. In the Jan–Sept period, MOFCOM fully implemented the decisions and arrangements of the Party Central Committee and the State Council, rolled out a special campaign to boost consumption, and introduced a host of pro-consumption policies. These measures steadily expanded the consumer market and continuously optimized residents’ consumption structure, making consumption a key driver of economic growth

1. Consumption Remains the Primary Growth Engine, with the Super-large Market Advantage Further Highlighted

In the first three quarters, final consumption expenditure contributed 46.7% to economic growth, up 0.7 percentage points from the first half, driving GDP growth by 2.1 percentage points. Consumption remained the top engine of economic expansion

2. Goods and Services Consumption Grow in Tandem, Maintaining Solid Momentum

Total retail sales of goods and services rose by 2.6% year-on-year (the same below), 0.1 percentage points faster than the Jan–August reading. Service retail sales climbed 5.0%, outpacing goods retail sales by 4 percentage points. Per capita household consumption expenditure reached 22,000 yuan, rising 3.6% in nominal terms and 2.7% in real terms after adjusting for price changes

3. Total Retail Sales of Consumer Goods Pick Up, with Solid Fundamentals for Goods Consumption

Retail sales of consumer goods increased by 1.1% in September, accelerating by 0.7 percentage points from August; retail sales excluding motor vehicles grew 3.9%. For the first three quarters, total retail sales of consumer goods edged up 1.1%, achieving steady growth despite a high base in the same period last year. Among the 16 major commodity categories of above-quota enterprises, 9 posted growth, and 6 saw growth above 5%

4. Green, Smart and Health Consumption Booms, Marking a Shift Toward New Upgraded Growth

Upgraded consumer goods registered robust expansion. Retail sales of communication equipment and cosmetics at above-quota enterprises jumped 18.1% and 6.1% respectively. MOFCOM big data showed that on key e-commerce platforms, sales of smart glasses surged 110%, exoskeleton assistive devices rose 46.4%, embodied AI robots grew 22.6%, and organic food sales increased 6.4%. Data from the China Automobile Dealers Association showed that the retail penetration rate of new energy passenger vehicles hit 67.0% in September

Source: Shanghai Securities News