China's Retail Sales Growth Reaches 3.2% in January-April, Services Outpace Goods

According to the Ministry of Commerce, combined goods and services retail sales grew 3.2 percent year-over-year in January-April 2026. Social retail sales of consumer goods increased 1.9 percent, while service retail sales rose 5.6 percent. The growth reflects ongoing consumption stimulus policies including trade-in programs and tax incentives.

Green and smart products showed strong demand, with new energy vehicles' market penetration reaching 61.4 percent for the first time, exceeding 60 percent. Service consumption continued to expand, reflecting China's shift toward quality and development-oriented spending as per capita GDP surpassed $13,000. Rural consumption growth outpaced urban areas by 1 percentage point, while inbound consumption rose significantly with tourism service exports growing 32.3 percent in the first quarter.