In today’s economic landscape, consumption is the engine powering growth in the Chinese mainland, and services are revving up faster than ever. 🚗💨
Think about your daily life: streaming your favorite show, ordering food delivery, hopping on ride-hailing apps, or planning a weekend getaway. These aren’t just perks—they’re the frontline of a major shift in how people spend their money.
According to the latest data, service retail sales in the Chinese mainland rose by 5.2% year on year in the first three quarters of this year. That’s 0.1 percentage points higher than the January–August period and 0.6 points above goods sales. Top performers? Culture, sports & entertainment; communications & information; tourism consulting & rentals; and transportation services all saw double-digit growth!
Why does this matter? As the region moves toward high-quality development, residents crave more diverse, personalized, and quality-oriented experiences. We’re seeing a shift from basic goods to a balanced mix of products and services, and from subsistence shopping to spending on personal growth and enjoyment. 🎮✈️
Experts expect this robust service boom to unleash a “multiplier effect,” boosting both the quality and quantity of household consumption. For young professionals, students, and travelers alike, it means more choices, better experiences, and fresh business opportunities in an evolving market.
Reference(s):
cgtn.com
