China’s 14th Five-Year Plan Powers a Consumption Surge 🚀

Rising Retail: $6.78T in 2024 🚀

Under the 14th Five-Year Plan (2021–2025), the Chinese mainland’s consumer market hit a record $6.78 trillion in retail sales during 2024. That’s right—consumption now drives about 60% of national GDP, making everyday spending a major engine of growth. 💸

New Energy Vehicles Take the Wheel 🚗⚡

Electric and hybrid cars (often called NEVs) are no longer niche. With supportive policies and charging networks popping up nationwide, these greener rides are zooming past traditional fuel cars. It’s a clear sign that eco-friendly tech is moving from concept to curbside reality. 🌿

Services Are the New Splurge 🎬🍲

Young, mobile-first consumers are shifting budgets from stuff to experiences. Think streaming marathons, game subscriptions, food delivery fests and weekend getaways. Services now account for a bigger slice of spending, fueling growth in hospitality, entertainment and digital platforms. 📱

What’s Next? A Dynamic Market Ahead 🌱

This consumption upgrade sets the stage for more innovations—smarter retail apps, AR try-ons, digital wallets and sustainable brands. Keep your eyes on the Chinese mainland as it shapes global trends in green tech, digital lifestyles and service-driven economies. 🚀

Reference(s):

Consumption in China upgraded during 14th Five-Year Plan

cgtn.com