Translation. Region: Russian Federation –
Source: People's Republic of China in Russian – People's Republic of China in Russian –
An important disclaimer is at the bottom of this article.
Source: People's Republic of China – State Council News
BEIJING, March 6 (Xinhua) — China has become the world's largest consumer market based on purchasing power parity (PPP) at the end of the 14th Five-Year Plan period (2021-2025), Chinese Commerce Minister Wang Wentao said at a press conference on Friday.
Between 2021 and 2025, China's per capita GDP rose from US$10,000 to more than US$13,000, while household consumption showed some changes, the official said at a press conference on the sidelines of the 4th session of the 14th National People's Congress.
According to him, more environmentally friendly and smart products have become part of everyday life.
During the recent nine-day Spring Festival holiday (the traditional Lunar New Year) in China, offline consumption growth outpaced online consumption for the first time in recent years, with both domestic travel and tourism spending reaching new all-time highs. At the same time, the official noted, there was accelerated adoption of artificial intelligence (AI) in everyday consumer behavior.
Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.