News Center

You are here: Home News Center Exhibition MOFCOM News

China's consumer market continues to rise Release date: 2023-03-03

China's consumer market has been steadily recovering this year, showing a rising momentum following the optimization of COVID-19 measures, the Ministry of Commerce said during a news briefing on Thursday.

On the basis of stabilizing consumption in key areas and developing new types of consumption, the ministry will mainly focus on restoring and expanding consumption in three areas.

First, the ministry will help organize a series of activities to boost consumption. It will work with relevant departments nationwide to mobilize local, industrial associations and enterprises to carry out a range of consumption promotional events.

The second focus is to consolidate and further expand consumption in key areas such as vehicles, home appliances, home furnishings and catering. Last year, sales of new energy vehicles (NEV) in China exceeded 6.8 million units, nearly doubling the sales of the previous year.

This year, the ministry will actively issue more new policies and measures to support the sales of NEVs. Those measures could include guiding local governments to introduce more NEVs to the countryside and optimizing the operational environments of charging piles.

Third, China will continue to promote the building of international consumption centers and cultivate more consumption scenarios, the Ministry of Commerce said.

During the Spring Festival holiday, the passenger flows of key business circles in 36 large and medium-sized cities across the country increased by 27.8 percent year-on-year, according to the Ministry of Commerce.

"During the Chinese New Year holiday, sale volumes of key retail and catering enterprises in China increased by 6.8 percent year-on-year. Malls, supermarkets, cinemas and sightseeing spots saw their popularities rise significantly," said Commerce Minister Wang Wentao.

Meanwhile, many restaurants saw diners wait in queues to be seated during peak hours, and the booking of hotels and flight tickets has been booming. The spending in culture, entertainments and sports grew rapidly, Wang said.

By Zhu Wenqian