Ministry of Commerce: will accelerate the introduction of policy measures such as optimizing departure tax refunds
2025-04-18
On April 17th, the Ministry of Commerce held a regular press conference to report on the consumer market situation in the first quarter. Spokesperson He Yongqian stated that in the first quarter of this year, commerce authorities at all levels conscientiously implemented the decisions and arrangements of the Party Central Committee and the State Council, vigorously carried out the special action to boost consumption, and the overall consumer market achieved a stable start, mainly showing the following characteristics: firstly, market sales continued to rebound. In the first quarter, the total retail sales of consumer goods reached 12.5 trillion yuan, a year-on-year increase of 4.6%, with a growth rate 1.1 percentage points faster than the entire previous year; Among them, the total retail sales of consumer goods in March reached 4.1 trillion yuan, a year-on-year increase of 5.9%, with a growth rate 1.9 percentage points faster than from January to February. The second is the diverse highlights of commodity consumption. The retail sales of goods increased by 4.6% year-on-year; Among them, the retail sales of goods above the quota increased by 5.8%. The policy of exchanging old for new continues to be effective, with retail sales of passenger cars increasing by 5.8% year-on-year. Retail sales of communication equipment, cultural office supplies, home appliances, and furniture for units above designated size increased by 26.9%, 21.7%, 19.3%, and 18.1% year-on-year, respectively. Upgraded products have shown good growth, with retail sales of sports and entertainment products increasing by 25.4%. The third is the steady growth of service consumption. The retail sales of services increased by 5.0% year-on-year, with a growth rate 0.4 percentage points faster than the retail sales of goods during the same period. The per capita service consumption expenditure of residents increased by 5.4% year-on-year, accounting for 43.4% of the per capita consumption expenditure, an increase of 0.1 percentage points compared to the same period last year. The catering revenue was 1.4 trillion yuan, a year-on-year increase of 4.7%. The fourth is the sustained release of innovative momentum. Digital consumption has developed rapidly, with online retail sales increasing by 7.9% year-on-year, of which online retail sales of physical goods increased by 5.7%. Green consumption is highly favored. According to data from the Automobile Circulation Association, the retail sales of new energy passenger vehicles in the first quarter increased by 36.4% year-on-year, with a penetration rate of 47.2%. The debut economy is full of vitality, with exciting debut, show off, and exhibition activities in Beijing, Shanghai, and other places, continuously stimulating consumer vitality. He Yongqian also stated that on April 13th, the Ministry of Commerce, together with relevant departments, launched the "Buy in China" series of activities at the 5th China International Consumer Goods Expo. The overall structure of the event is 1+4, which focuses on the debut economy and carries out various debut performances and exhibitions; Organize and hold a variety of characteristic activities in four aspects: boutique shopping, exquisite cuisine, exciting tourism, and exquisite exhibitions. It is reported that during the event, promoting consumption and benefiting people's livelihoods will be combined, focusing on the concerns of the people, expanding the supply of high-quality goods and services, innovating diversified consumption scenarios, optimizing and improving the consumption environment, and continuously enhancing the sense of gain of the people. It will coordinate the consumption of goods and services, so that consumers can enjoy global food, magnificent mountains and rivers, and exquisite performances while enjoying TESCO Group's international boutiques and domestic fashion products. He Yongqian revealed that the Ministry of Commerce will adhere to the dual wheel drive of "policy+activity", accelerate the implementation of the special action to boost consumption, strengthen the expansion of consumer goods trade in, deeply implement the action to improve service consumption quality and benefit the people, and accelerate the introduction of policy measures such as optimizing outbound tax refunds. "'Buy in China' not only serves the Chinese people, but also faces people from all over the world. We sincerely welcome foreign friends to visit China, purchase Chinese goods, taste Chinese cuisine, appreciate Chinese scenery, and together experience the unique charm of 'buying in China' He Yongqian said. (New Society)
Edit:Yao jue Responsible editor:Xie Tunan
Source:Securities Daily
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