China's consumer market strengthens as a key economic driver
2025-07-19 09:24:19 source：CGTN
July 18, 2025
China's consumer market has solidified its role as a major economic engine, with retail sales expected to exceed 50 trillion yuan ($7 trillion) this year, Commerce Minister Wang Wentao said at a press conference on Friday.
China is summarizing its achievements under the 14th Five-Year Plan (2021–2025), highlighting key economic milestones.
Over the past four years, total retail sales of consumer goods have grown at an average annual rate of 5.5 percent, maintaining China’s position as the world’s second-largest consumer market. While China’s retail sales amount to about 80 percent of those in the U.S. in absolute terms, World Bank data indicates its purchasing-power-adjusted consumption is 1.6 times larger.
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