China consumer spending grows 4.8% in first seven months of 2025

China’s consumer spending maintained solid momentum in the first seven months of 2025, with retail sales of consumer goods rising 4.8 per cent year on year, according to data from the National Bureau of Statistics (NBS).

In July alone, retail sales grew 3.7 per cent to nearly 3.88 trillion yuan (~$543.6 billion). Growth was largely driven by the government’s consumer goods trade-in programme.

Online retail sales continued to shine, climbing 9.2 per cent in January–July, while physical goods purchased online rose 6.3 per cent, accounting for almost one-quarter of total retail sales.

Policy measures have supported consumption and fostered new growth drivers but cautioned that external uncertainties and domestic constraints still pose challenges, a state-controlled news agency quoted NBS spokesperson Fu Linghui as saying.

Authorities plan to roll out further targeted initiatives to boost spending, strengthen services, and enhance the consumption environment to ensure stable market growth.

ALCHEMPro News Desk (HU)