According to the website of the Ministry of Commerce, on the 23rd, an official from the Department of Consumption Promotion of the Ministry of Commerce stated when talking about the performance of China's consumer market in the first quarter of 2025 that since the beginning of this year, commerce authorities at all levels have earnestly implemented the decisions and arrangements of the CPC Central Committee and the State Council. They have vigorously carried out special campaigns to boost consumption, expanded the scope of consumer goods trade-in programs, increased service consumption, and innovated consumption scenarios. As a result, the consumer market has achieved a stable start, and the vitality and potential of China's ultra-large-scale market have been further unleashed.

The official introduced that in the first quarter, the total retail sales of consumer goods (TRSCG) reached 12.47 trillion yuan, a year-on-year increase of 4.6%, 1.1 percentage points faster than the full-year growth rate of the previous year. Among this figure, the growth rate hit 5.9% in March. In the first quarter, the per capita consumer spending of residents rose by 5.2% year on year; final consumer spending contributed 2.8 percentage points to GDP growth, further consolidating its fundamental role in economic development.

First, the effects of trade-in programs have been remarkable, with sales of green and smart products registering rapid growth. In the first quarter, retail sales of goods grew by 4.6% year on year, 1.4 percentage points faster than the full-year rate of the previous year. Retail sales of goods by enterprises above designated size increased by 5.8%, 3.1 percentage points higher than the full-year growth rate of the previous year. Specifically, retail sales of communication equipment, cultural and office supplies, home appliances, and furniture surged by 26.9%, 21.7%, 19.3%, and 18.1% year on year respectively. According to data from the China Automobile Dealers Association, retail sales of passenger vehicles climbed 5.8% year on year in the first quarter, among which retail sales of new energy passenger vehicles soared by 36.4%, with their penetration rate reaching 47.2%. In March, sales of smart home products by some key monitored enterprises increased by more than 10% year on year.

Second, service consumption has kept expanding, with cultural, recreational and tourism consumption being particularly favored. In the first quarter, retail sales of services grew by 5.0% year on year, 0.4 percentage points faster than that of goods. Among this category, catering revenue rose by 4.7%, 0.4 percentage points higher than the January-February period. The per capita expenditure of residents on transportation and communication, as well as education, culture and entertainment, both achieved double-digit growth. Domestic blockbusters such as Ne Zha 2 have sparked a moviegoing boom; the national box office revenue reached 24.4 billion yuan in the first quarter, a year-on-year increase of approximately 48%, hitting a record high. Inbound tourism has maintained its popularity. According to data from the National Immigration Administration, since the implementation of the 240-hour visa-free transit policy, as of March 31, the number of inbound foreigners at ports across the country has increased by 40.2% year on year, with visa-free arrivals accounting for 71.3% of the total.

Third, online consumption has maintained rapid growth, while physical retail has shown a recovering and improving trend. In the first quarter, online retail sales rose by 7.9% year on year, among which online retail sales of physical goods increased by 5.7%, accounting for 24.0% of the total retail sales of consumer goods. Physical retail enterprises have accelerated their digital transformation, actively innovated consumption scenarios, enhanced consumption experience, and achieved steady sales growth. In the first quarter, retail sales of goods by physical stores above designated size grew by 4.4% year on year, 1.6 percentage points faster than the January-February period. Specifically, retail sales of convenience stores, specialty stores, and supermarkets increased by 9.9%, 6.7%, and 4.6% year on year respectively.

"With the continuous implementation of various consumption-expanding policies and measures, the steady launch of the Shop in China campaign series, and the accelerated application of new technologies such as artificial intelligence in the consumption sector, the consumer market is expected to maintain a steady development momentum, which will provide strong support for the sustained recovery and improvement of the economy," the official said.