Retail performance surprises, measures to boost consumption are effective, China's economic data to start the year 'beat expectations'

In the first two months of this year, the industrial service sector grew rapidly, consumption and investment continued to improve, the employment situation was generally stable, new quality productivity grew stronger, and the economy got off to a steady start, according to data released by the National Bureau of Statistics on Thursday. Among them, the total retail sales of social consumer goods was 8,373.1 billion yuan, an increase of 4.0%, and the national industrial added value above designated size increased by 5.9%, both of which exceeded foreign media expectations, showing that Chinese consumer confidence is improving. Bloomberg commented that the data provided the "most comprehensive snapshot" of China's economic performance since the US government launched a new round of trade wars and imposed tariffs on Chinese imports to the US. Many media have mentioned that boosting consumption is listed as the top priority of China's economic work in 2025, and it is also a necessary move for China to cope with the external unstable trade environment. Recently, the General Office of the Communist Party of China Central Committee and The General Office of the State Council issued a special action plan to boost consumption, including 30 policy measures in eight parts, which is called "the most comprehensive guidance on boosting consumption since China's reform and opening up." On the 17th, The State Council held a press conference to introduce the situation of boosting consumption.

Resource: 中国日报网