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Consumption in 2019 is expected to exceed 40 trillion yuan for the first time to maintain the first driving force for economic growth for six consecutive years

来源:央视网 17:03:00, December 30, 2019 Source: CCTV

CCTV News: At the National Business Working Conference held today (30th), a person in charge of the Ministry of Commerce introduced that China's consumer market will generally operate smoothly and expand steadily in 2019. It is expected that the total annual consumption will exceed 40 trillion yuan for the first time The fundamental role of consumption in economic growth has been further consolidated.

According to reports, in 2019, China's new consumption and new business models have developed rapidly. In the first 11 months, online retail sales of physical goods reached 7.6 trillion yuan, a year-on-year increase of 19.7%. New models of live e-commerce, social e-commerce, and fresh e-commerce have developed rapidly.

Demand for service consumption is strong. In the first 11 months, national catering revenue increased by 9.4% year-on-year, 1.5 percentage points higher than the growth rate of retail sales of goods.

Rural and Midwest consumption led the growth rate. The retail sales of rural consumer goods in the first 11 months increased by 9% year-on-year, 1.1 percentage points faster than in cities and towns. In the first three quarters, the total growth rate of the total zero in the central and western regions was 10.1% and 7.8%, which was faster than the growth rate of 7.3% in the eastern region.

In addition, consumer goods imports have grown rapidly. In the first three quarters, the cumulative import of consumer goods was 1.04 trillion yuan, an increase of 15.3% year-on-year, and the growth rate was about 3 percentage points faster than the same period of the previous year. The nationwide cross-border e-commerce retail import growth rate exceeded 30%.

Wang Bin, Deputy Director of the Department of Market Operations of the Ministry of Commerce: In 2019, the total retail sales of social consumer goods in China is expected to exceed 40 trillion yuan for the first time, reaching 41.1 trillion yuan, which will maintain the first driving force for economic growth for six consecutive years.

At present, there are more than 70 million households in the circulation industry in China and about 200 million people are employed. The circulation industry has become an important carrier for entrepreneurship and innovation, which has effectively promoted stable economic development and improved people's livelihood.

[Responsible editor: Liu Hongyang]

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