The national economic data for October, released on November 16, showed that the total retail sales of social consumer goods in the month was 3,857.6 billion yuan, an increase of 4.3 percent, 1 percentage point faster than the previous month。Retail sales of goods increased 4.8%, four consecutive months of positive growth, catering growth of 0.At 8%, the growth rate turned positive for the first time this year。
The person in charge of the Department of Consumption Promotion of the Ministry of Commerce said when talking about China's consumer market in October，Since this year，The COVID-19 pandemic has posed severe challenges to China's consumer market，The Ministry of Commerce will work with all regions and departments to coordinate epidemic prevention and control and consumption promotion，We will closely monitor, study and judge the consumption situation，We introduced a series of policy measures to stimulate market vitality and promote the recovery of consumption，Sentiment has picked up markedly，Consumer confidence has recovered strongly。The accelerated growth of the total amount of social zero in October shows the huge potential, strong resilience and vitality of China's consumer market after the test of the epidemic。
Data in October showed that the consumption growth rate further accelerated, the consumption of automobiles and other goods increased rapidly, the consumption of catering and other services accelerated the recovery, online consumption continued to grow at a high speed, and the consumer price fell significantly。
Fu Yifu, director of consumer finance Research Center of Suning Institute of Finance, said in an interview with International Business Daily，The consumer market continued to pick up momentum in October，Find out why，In addition to the continuous recovery of the economic situation, the steady recovery of residents' willingness to consume, and the implementation of policy effects，The "holiday effect" of the National Day and Mid-Autumn Festival holidays also played an important role，The pent-up demand for tourism affected by the epidemic has been properly released，Chinese people are particularly willing to travel，In turn, it has significantly boosted the operation of a series of activities such as railway and air transportation, wholesale and retail, accommodation and catering, culture, sports and entertainment。
“此外，Sales of consumer goods such as cosmetics, gold, silver and jewelry, and automobiles all achieved double-digit growth，Online retail sales are also increasing at a high rate，Reflecting the pace of consumer upgrading is still moving forward，The development of new online consumption has maintained a hot momentum，Become an important force to support the recovery of the consumer market。"Fu Yifu said。
Ying Xiwen, deputy director of the Regional Economic Research center of China Minsheng Bank Research Institute, said in an interview with the International Business Daily reporter that retail sales of social consumer goods rose in October, but still lower than the same period last year.At 2%, consumption has not returned to normal levels。Car consumption has increased because the epidemic has changed people's travel needs and local support policies。
In addition, the better consumption performance in October is related to the decline in the unemployment rate and the improvement of residents' income expectations。The data show that the surveyed unemployment rate of 31 big cities and towns is 5.3 percent, down 0. 0 from September.Two percentage points。This means that the job market in big cities is speeding up the repair, and the impact of the epidemic is gradually digested。
Liu Xuezhi, a senior researcher at the financial Research Center of the Bank of Communications, told the International Business Daily reporter that the latest data shows that the cumulative consumption growth rate from January to October is only -5.9%, the annual consumption growth may be difficult to achieve positive growth。It is expected that the consumption of service industries such as catering, tourism and hotels will drop significantly throughout the year。
"But it is foreseeable that as production and life return to normal, consumption will continue to recover in the future, and consumption growth is also expected to accelerate.。The unemployment rate was 5 percent in October.At 3%, it is gradually approaching the pre-epidemic level, and the increase in income driven by the overall improvement in the employment situation will promote consumption growth。There is a large space for the recovery of offline consumption, which has become the key to supporting the acceleration of consumption growth。"Liu Xuezhi said。
Ministry of Commerce consumer promotion department said，Next stage，The Ministry of Commerce will thoroughly implement the spirit of the Fifth Plenary Session of the 19th Central Committee，Focus on building a new development pattern，We adhered to the strategy of expanding domestic demand，We will coordinate the implementation of epidemic prevention and control and policies to promote consumption，We will continue to improve the modern commercial circulation system，We will organize and implement activities to promote consumption at the end of the year and the beginning of the year，Ensure stable market supply，We will further consolidate the good momentum of steady and sustained recovery of the consumer market。
(Article from International Business Daily)