Chinese market shows rapid and sustained growth [Video]

China’s consumption and service industry continues its recovery trend after the pandemic. With renewed enthusiasm among the public for dining and socializing in restaurants and bars, more effective policies for spurring and expanding consumption are being introduced. This year’s China Consumer Rights Day highlights consumer vitality. By enhancing the consumption environment and structurally upgrading the consumer sector, China has seen some new trends in consumption. After the Spring Festival holidays, offline consumption vitality quickly rebounded. Data from the State Information Center shows the average value of offline consumption activity, from January to February, increased by 3.9 percent year on year, which was better than the same period last year. The catering sector generated a sale of 5.29 trillion yuan (approximately $745 billion) in 2023, up 20.4 percent. Retail sale of services grew 20 percent, 14.2 percentage points faster than retail sales of goods, according to the National Bureau of Statistics …