"People follow the crowd" everywhere in the scenic spot, the movie market is booming, and online payments are growing rapidly... From the beginning of the New Year to the Spring Festival and then to the warm spring blossoms, the vitality of China's consumer market has attracted international attention. With the orderly expansion of China's visa-free "circle of friends", the increase in international flights, the willingness of foreign tourists to travel to China has increased, and the accelerated recovery of the inbound tourism market is a "vote of confidence" cast with your feet.

At the same time, there are also a lot of noises, such as "China's consumption momentum is disappearing","China's economy has fallen into a vicious cycle of falling prices and reducing consumption", etc., which may reflect the anxiety and doubts of some people, or be inspired by some people. Bewitching with ulterior motives. With a population of more than 1.4 billion and the world's largest middle-income group, it has maintained its status as the world's second largest commodity consumer market, the world's largest manufacturing country, and the largest goods trading country for many years in a row. Faced with such solid market fundamentals, the "theory of the disappearance of China's consumption momentum" is obviously a misunderstanding or even arbitrary judgment.

First, short-term economic fluctuations cannot be deliberately amplified into long-term trends.

In the past year or two, the consumer price index (CPI) has often been used to criticize China's economy. In particular, China's CPI fell year-on-year in January this year, and some foreign media judged that a vicious cycle of "falling prices-decreasing consumption" has emerged.

Objectively analyzing the reasons for the change in this data, first, January last year was the Spring Festival, and consumption was significantly driven, making the year-on-year base of January this year's data relatively high. Consumer demand released during the Spring Festival this year showed that in February, CPI increased by 0.7% year-on-year, turning from decline to increase, and rebounded more. Second, compared with year-on-year data, month-on-month data can more intuitively reflect the trend over a period of time. From December last year to February this year, CPI rose for three consecutive months month-on-month, with increases of 0.1%, 0.3%, and 1.0% respectively, indicating that effective social demand is maintaining a positive momentum of recovery.

Only when data is put into trends can it be more interpretive. 2023 is a year when the "scar effect" of the epidemic gradually dissipates. Throughout the year, China's CPI data is generally in a positive range, showing a moderate increase; the total retail sales of consumer goods increased by 7.2% over the previous year, and the contribution rate of final consumption expenditure to economic growth was 82.5%, driving GDP growth by 4.3 percentage points. No matter from which perspective, the main engine role of consumption has been further enhanced.

More importantly, the new consumption momentum driving China's economic giant is accelerating. Domestic products, national trends, and national charm products are very popular, which has also driven many cultural tourism consumption such as national style photography and ancient city tours; digitalization has redefined daily life, and new business formats and models such as digital cultural tourism, live broadcast economy, and online fitness have emerged one after another. New scenarios and paradigms such as mobile smart terminals, smart homes, and smart wearables have emerged, showing the potential for rapid growth...

The huge market is a huge comparative advantage that allows China's economy to continue to increase its strong ability to withstand shocks and self-stability and self-repair capabilities. After encountering difficulties and challenges, short-term adjustments are inevitable, but with this strong resilience, we can always open up new development space. It can be said that the huge market advantage is the strongest confidence for China's economic viability, competitiveness, and attractiveness of opening up.

Second, the adjustment of consumption structure cannot be misinterpreted intentionally or unintentionally as "consumption downgrade."

Since last year, there have been some consumption phenomena, such as "discount stores are in the limelight" and "Carrefour's closing trend".