Consumption vitality continues to be released Rui Finance .

Mondo Education Updated on 2024-01-30

**: People's **Overseas Edition.

A few days ago, in a car sales 4S store in Luyang Economic Development Zone, Hefei City, Anhui Province, citizens are buying personalized auto parts and vehicle maintenance services according to their own needs. Photo by Zhao Ming (People's Vision).

According to data released by the National Bureau of Statistics a few days ago, in November, the total retail sales of consumer goods increased by 10 percent year-on-year1%, 2 percent faster than the previous month5 percentage points.

Fu Jiaqi, a statistician from the Department of Trade and Economics of the National Bureau of Statistics, said that in November, with the implementation of a series of policies to expand domestic demand and promote consumption, coupled with the rebound in travel-related demand and the low base in the same period last year, market sales accelerated growth, and the proportion of online consumption increased steadilyThe demand for contact-based and agglomeration-based service consumption has been continuously released, and the service consumption market has continued to improve.

The growth rate of market sales has accelerated.

November's consumer market data revealed a good recovery in domestic demand.

The growth rate of market sales has accelerated, and the rural market has recovered faster than that of urban markets. In November, the total retail sales of consumer goods reached 4,250.5 billion yuan, a year-on-year increase of 101%, the growth rate is 2 faster than in October5 percentage points. After deducting the ** factor, the total retail sales of consumer goods increased by 112%, 2 percent faster than in October8 percentage points.

In terms of urban and rural areas, driven by favorable conditions such as the gradual improvement of county and township commercial infrastructure and the enhancement of product adaptability, the sales growth rate of rural markets is faster than that of urban areas. In November, the retail sales of urban consumer goods increased by 10 percent year-on-year0%, the growth rate was 2 faster than in October6 percentage points;Retail sales of rural consumer goods increased by 104%, the growth rate is 0 higher than that of urban areas4 percentage points, 1 percentage point faster than in October5 percentage points.

Retail sales of commodities grew steadily, and sales of some upgraded commodities were good. In November, retail sales of goods increased by 8 percent year-on-year0%, the growth rate is 1 faster than in October5 percentage points. From the perspective of commodity categories, nearly eighty percent of the retail sales of commodity categories increased year-on-year. In the retail sales of commodities of units above designated size, the retail sales of food, clothing and consumer goods increased respectively. 0% and 80%。

In November, driven by factors such as the continuous release of consumer demand for quality goods and automobile subsidy activities, the sales of some upgraded goods and travel-related goods grew well. Among them, the retail sales of gold, silver, jewelry, and communication equipment of units above designated size increased year-on-year respectively. 8%, the growth rate was faster than that in October. 2 percentage points;The retail sales of automobiles and petroleum commodities of units above designated size increased respectively. 2%, the growth rate was faster than that in October. 8 percentage points.

Retail sales of services increased.

Under the effect of a series of pro-consumption policies, the potential of residents' service consumption has been continuously released, and the service consumption market has continued to recover. Fu Gaqi said. From January to November, retail sales of services increased by 19 percent year-on-year5%, the growth rate is 05 percentage points, accelerating for 2 consecutive months.

New consumer products, new scenarios, and new business formats are constantly emerging, further stimulating the vitality of the service consumer market. In November, the national catering revenue increased by 25% year-on-year8%, the growth rate is 8 percent faster than in October7 percentage points;Room revenue of accommodation and catering units above designated size maintained a double-digit rapid growth. According to data from relevant departments, in November, the national box office revenue nearly tripled year-on-year.

Liu Aihua, director of the Department of Comprehensive Statistics of the National Economy of the National Bureau of Statistics, said: "The rapid growth of service consumption in recent years is mainly determined by China's current stage of development, which is the embodiment of the upgrading of consumption structure. At present, China's per capita GDP exceeds 120,000 US dollars, which is in a period of rapid upgrading of residents' consumption structure. ”

From the perspective of consumption patterns, the proportion of service consumption has rebounded, and the demand for entertainment, information and medical care has increased significantly. Although service consumption, especially contact-based aggregation consumption, has been greatly affected by the impact of the epidemic, and the scale of consumption has fluctuated, with the full return to normal operation of the economy and society since the beginning of this year, residents' consumption demand has been released under the effect of a series of pro-consumption policies, and the scale of consumption has continued to expand.

Liu Aihua said that in order to more comprehensively reflect the development of the consumer market, the National Bureau of Statistics began to release data on the growth rate of retail sales of services in August this year. The statistical monitoring of service consumption involves a wide range of national economic industries, and there are many basic data, which is difficult to calculate. Next year, the National Bureau of Statistics will revise the calculation base based on the data of the Fifth National Economic Census and further improve the statistical monitoring system of the service consumption market.

New forms of consumption are active.

Since the beginning of this year, new forms of consumption have been relatively active. According to statistics from relevant departments, as of the beginning of December, the volume of express delivery business exceeded the 120 billion mark for the first time, setting a new record high.

The proportion of online shopping has increased steadily, and sales in physical stores have continued to recover. From January to November, the national online retail sales of physical goods increased by 8 percent year-on-year3%, accounting for 27 percent of the total retail sales of consumer goods5%, accounting for an increase of 0 from January to October8 percentage points. Among the online retail sales of physical goods, food, clothing and use increased year-on-year respectively. 2% and 75%。

With the continuous innovation and expansion of offline consumption scenarios, the retail sales of physical stores have recovered for the better. From January to November, the retail sales of physical stores above designated size increased by 4% year-on-year9%, the growth rate was 0 faster than that from January to October6 percentage points, and the cumulative growth rate accelerated for three consecutive months. Among them, the retail sales of convenience stores, department stores, specialty stores and brand stores increased respectively. 5%, the growth rate was faster than that from January to October. 9 percentage points;Supermarket retail sales fell by 05%。

Fu Jiaqi said that although the consumer market has generally maintained a good recovery trend, it should also be noted that the growth rate of total retail sales of consumer goods in November accelerated with the effect of a low base in the same period last year, the current residents' consumption capacity and consumer confidence still need to be enhanced, the consumption of residential goods continues to be sluggish, and the effective supply of goods and services in the consumer market is still insufficient. In the next stage, it is necessary to focus on improving residents' consumption capacity, continuously consolidate the foundation for consumption growth, give full play to the effect of pro-consumption policies, and promote the continuous recovery of the consumer market.

The first economic work conference held a few days ago pointed out that it is necessary to stimulate potential consumption, expand effective investment, and form a virtuous circle in which consumption and investment promote each other. Liu Aihua said that with the gradual implementation of the policy of expanding domestic demand, consumption will gradually shift from post-epidemic recovery to continuous expansion, and the problem of insufficient effective demand in the current economic operation is expected to be gradually alleviated. (Reporter Xu Peiyu).

People** Overseas Edition (December 22, 2023 Edition 03).

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