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2023 China Economic Observation丨Diverse Scenarios and Consumption Demonstrate New Vitality

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In 2023, China's economy will generally pick up and improve, and high-quality development will be steadily promoted.

In the first 10 months of this year, the total retail sales of consumer goods in mainland China increased by 6.9% year-on-year, and the retail sales of services increased by 19.0% year-on-year. Since the beginning of this year, the consumer market has continued to recover, and the consumption scenarios have continued to expand, demonstrating the resilience and vitality of China's economy.

2023 China Economic Observation丨Diverse Scenarios and Consumption Demonstrate New Vitality

■The new experience of cultural tourism "stimulates" new vitality of consumption

Since the beginning of this year, immersive experience and special play have ...... More and more new consumption scenarios are "unlocked", attracting consumers to "check in" and experience the new experience brought by cultural tourism consumption.

2023 China Economic Observation丨Diverse Scenarios and Consumption Demonstrate New Vitality

■The night economy "lights up" a new space for consumption

The night economy has become a new consumption growth point. Since the beginning of this year, Henan, Zhejiang, Shandong and other places have launched policies to promote the development of the night economy, Zhengzhou encourages businesses to delay their operations, Shenzhen unlocks "roadside stalls", and Lanzhou allows and regulates the "outward display" of stores...... The scene and duration of nighttime consumption have been further extended, and people's consumption passion has been further ignited.

2023 China Economic Observation丨Diverse Scenarios and Consumption Demonstrate New Vitality

■ The sports market "empowers" new highlights of consumption

The continent has become one of the world's largest sports consumer markets. At present, the scale of sports consumption in mainland China is about 1.5 trillion yuan, and it is expected to grow to 2.8 trillion yuan in 2025.

2023 China Economic Observation丨Diverse Scenarios and Consumption Demonstrate New Vitality

In the next step, we will strengthen the momentum of consumption recovery and continuously stimulate the vitality of the consumer market, which will not only meet the growing needs of the mainland people for a better life, but also provide important support for the development of the world economy.

2023 China Economic Observation丨Diverse Scenarios and Consumption Demonstrate New Vitality

Choreographer: Guo Lin

Reporter: Long Lingyu, Wu Hongbo, Cai Xinyi, Wang Fan, Zhang Xiao, Sun Lei, Li Qianwei, Tang Wenhao, Li Like, Dong Xiaohong, Liu Qinbing, Yang Yanbin, Cui Xiaoqiang

Reporters: Cui Yang, Feng Wei, Chen Juwei

Produced by Xinhua News Agency's Audio and Video Department

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