The central bank released China's monetary policy implementation report for the first quarter of 2025, which mentioned that financial support for consumption already has a good foundation, and there is still room for further efforts. Currently, the construction of multi-level consumer finance service systems such as banks, consumer finance companies, and auto finance companies in China is relatively complete, providing important support for the stable development of the consumer market. Financial institutions continue to innovate and launch diverse consumer credit products and service models around consumer scenarios such as trade-in, snow and ice sports, which have effectively stimulated market vitality, and total retail sales of social consumer goods across the country have continued to grow. At the same time, structural contradictions in the consumer sector are still prominent. There is a gap in personalized and high-quality supply in the consumer sectors of services such as cultural, sports, tourism, nursing care, medical care, etc., and the construction of infrastructure and logistics distribution systems for services and consumption in counties is not perfect. Judging from the financial support consumption situation, direct financing such as equity and bonds, which are highly dependent on traditional credit accounts for a low proportion, and credit products are not suitable. It is necessary to expand the supply of high-quality finance in the consumer sector by constructing a financial product and service system that matches consumer demand, and ultimately form a development pattern of mutual empowerment, deep integration, and a virtuous cycle between consumption and finance, and continuously unleash the growth momentum of the consumer market.

The central bank released China's monetary policy implementation report for the first quarter of 2025, which mentioned that financial support for consumption already has a good foundation, and there is still room for further efforts. Currently, the construction of multi-level consumer finance service systems such as banks, consumer finance companies, and auto finance companies in China is relatively complete, providing important support for the stable development of the consumer market. Financial institutions continue to innovate and launch diverse consumer credit products and service models around consumer scenarios such as trade-in, snow and ice sports, which have effectively stimulated market vitality, and total retail sales of social consumer goods across the country have continued to grow. At the same time, structural contradictions in the consumer sector are still prominent. There is a gap in personalized and high-quality supply in the consumer sectors of services such as cultural, sports, tourism, nursing care, medical care, etc., and the construction of infrastructure and logistics distribution systems for services and consumption in counties is not perfect. Judging from the financial support consumption situation, direct financing such as equity and bonds, which are highly dependent on traditional credit accounts for a low proportion, and credit products are not suitable. It is necessary to expand the supply of high-quality finance in the consumer sector by constructing a financial product and service system that matches consumer demand, and ultimately form a development pattern of mutual empowerment, deep integration, and a virtuous cycle between consumption and finance, and continuously unleash the growth momentum of the consumer market.