Yuan Yan, chief statistician of the Trade and Economics Department of the National Bureau of Statistics, interpreted the January-July consumer market data. Since this year, policies and measures to expand domestic demand and promote consumption have continued to bear fruit. The scale of China's consumer market has been steadily expanding and the quality of development has continued to improve. Product retail expansion and upgrading, service retail innovation and expansion, online retail has maintained rapid growth, and new consumption formats and models are bursting with vitality. From January to July, total retail sales of consumer goods and services increased 2.6% year on year; among them, retail sales of services increased by 5.0%, which was 3.9 percentage points higher than retail sales of goods. In the past three years, service retail has continued to grow faster than commodity retail, and the consumer market is clearly characterized by a shift from being dominated by commodity consumption to placing equal emphasis on goods and services. Consumer demand is becoming increasingly personalized, diversified and qualitative, the consumer market is becoming more diverse and rich, and the advantages of China's hyperscale market continue to show.

Yuan Yan, chief statistician of the Trade and Economics Department of the National Bureau of Statistics, interpreted the January-July consumer market data. Since this year, policies and measures to expand domestic demand and promote consumption have continued to bear fruit. The scale of China's consumer market has been steadily expanding and the quality of development has continued to improve. Product retail expansion and upgrading, service retail innovation and expansion, online retail has maintained rapid growth, and new consumption formats and models are bursting with vitality. From January to July, total retail sales of consumer goods and services increased 2.6% year on year; among them, retail sales of services increased by 5.0%, which was 3.9 percentage points higher than retail sales of goods. In the past three years, service retail has continued to grow faster than commodity retail, and the consumer market is clearly characterized by a shift from being dominated by commodity consumption to placing equal emphasis on goods and services. Consumer demand is becoming increasingly personalized, diversified and qualitative, the consumer market is becoming more diverse and rich, and the advantages of China's hyperscale market continue to show.