Summary
As China drafts its 15th Five-Year Plan (2026–2030), policymakers are emphasizing the strength and evolution of the country’s domestic consumption market — focusing on smarter spending, service growth, and technological innovation.
Despite talk of a “consumption downgrade,” China’s vast market is showing transformation, not retreat. Brands like Pop Mart, Laopu Gold, and Mixue Bingcheng illustrate how consumers are blending affordability with emotional and cultural value — choosing quality, heritage, and smart spending over simple thrift.
Data show retail sales grew 4.6% in the first eight months of 2025, while demand for green food, smart appliances, and China-chic fashion surged during the October holidays. Analysts say the new trend reflects a shift “from scale to quality, personalization, and sustainability.”
Another key change is the rise of experience-driven spending. Concerts, domestic travel, and sports events are booming — with 888 million domestic trips during October’s holidays and record ticket sales for major tournaments.
Officials say service consumption—from culture to tourism and education—will become the main driver of growth under new policy measures to expand high-quality supply and open key sectors.