China's retail sales of consumer goods up 4.6% in January-March

China's retail sales of consumer goods, a major indicator of the country's consumption strength, grew 4.6 per cent year-on-year in the first quarter of 2024, Commerce Ministry Spokeswoman He Yadong said.

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According to China Central Television (CCTV), the faster growth pace in consumer goods sales demonstrates that a new round of stimulus packages completed this year by the central government focusing on driving domestic demand and boosting consumption has paid off.

"The retail sales of consumer goods in the first quarter reached 11.56 trillion yuan ($1.71 trillion), up by 4.6 per cent year-on-year."

This growth rate is 0.8 percentage point higher than the average growth rate in the entire year of 2024.

The retail sales of passenger vehicles rose by 5.8 percent year-on-year, the spokeswoman said at a press conference in Beijing.

Meanwhile, China's industrial production posted strong growth in the first quarter of 2025, laying a solid foundation for achieving the annual economic goals, according to a Chinese official on Friday.

During a press conference held in Beijing, Xie Shaofeng, Chief Engineer of China's Ministry of Industry and Information Technology, provided an overview of the performance of China's industrial production for the first quarter.

China Central Television (CCTV) quoted Xie say-ing, "In the first quarter, the added value of industrial enterprises above designated size increased by 6.5 per cent year on year. The equipment manufactur-ing industry developed well, with new electronics, automobiles, electrical machinery and equipment sectors playing a prominent role in driving growth.