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At the beginning of the month, the Ministry of Commerce, in conjunction with relevant departments, cities, and industry associations, launched the China International Consumption Center Cities Premium Consumption Month campaign, achieving positive progress and results. At a regular press conference held by the Ministry of Commerce on the designated date, spokesperson He Yongqian introduced that the recent consumer market has shown four main characteristics.

First, the first economic highlights are outstanding

Various regions are focusing on international luxury goods, domestic trendy products, and time-honored brands, organizing a variety of first-time launch, debut, and exhibition events. New flagship stores, concept stores, and other first-time establishments have been opened, injecting new vitality into the consumer market. Beijing has launched the "Concentrated New Product Season" event, while Guangzhou and Tianjin have separately held the "Fashion Guangzhou" and "Jinmen Fashion Show" for the first-time launch of high-quality products. At the just-concluded 7th China International Import Expo, new products, technologies, and services were showcased, including multiple global firsts, Asian first exhibitions, and Chinese first debuts.

Second, commodity consumption has grown steadily

Local governments, in collaboration with relevant industry associations, have organized retail enterprises such as supermarkets, shopping malls, and outlets to carry out various consumer-friendly activities, stimulating market vitality. According to monitoring by the Ministry of Commerce's big data, in the first ten days of the month, sales of home appliances, communication equipment, and clothing by key retail enterprises increased by %, %, and % respectively, with some time-honored brand products seeing sales double. The old-for-new policy has continued to exert its influence. As of the end of the month, there were . million applications for automobile scrappage and renewal subsidies, over million applications for replacement and renewal subsidies, and . million consumers purchased . million large household appliances. E-commerce platforms under key monitoring saw leading growth in categories such as range hoods and gas stoves.

Third, service consumption is full of vitality

Various regions have organized activities such as the Service Consumption Season, Chinese Gourmet Festival, Hotpot Food Festival, and International Arts Festival to expand high-quality supply, innovate consumption scenarios, and meet the personalized and diverse needs of consumers. According to data from relevant institutions, sales in sectors such as catering, accommodation, and leisure entertainment have increased by over 10% in the first ten days of the month.

Fourth, new consumption is booming

Digital, green, smart, and healthy new consumption models are gaining popularity. Some companies have seen sales of energy-saving washer-dryer combos, fresh-air air conditioners, smart robot vacuums, water-saving dishwashers, and action cameras more than double year-over-year. Some enterprises are leveraging artificial intelligence technology to create immersive consumption scenarios such as smart fitting rooms and digital experience centers, better responding to consumers' personalized needs.

In the later stages, He Yongqian stated that with the in-depth development of the high-quality consumption month activities, the effectiveness of the old-for-new consumer goods exchange and a package of incremental policies will further manifest, anticipating that the consumer market will continue to maintain an upward and improving trend.

Text/Wei Qiao

Editor/Sun Nan

Review/Xinyi

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