China’s consumer spending expanded modestly in 2025, with total retail sales of consumer goods reaching USD 7.2 trillion (RMB 50.1 trillion), up 3.7% year-on-year and slightly above the 3.5% growth recorded in 2024. Monthly data show that momentum strengthened through the first half of the year, peaking around mid-2025, before gradually softening into the final quarter. The combined January-February figure, reported by the National Bureau of Statistics to account for Lunar New Year timing effects, was followed by relatively firmer growth in the spring months and a visible deceleration toward year-end.

Online retail sales continued to outperform overall consumption. Online sales rose 8.6% in 2025 to USD 2.3 trillion (RMB 15.9 trillion), lifting digital penetration to 31.9% of total retail sales. The steady rise in online share over the course of the year suggests that digital channels remained structurally resilient even as aggregate retail growth moderated.

A divergence between urban and rural demand was also evident. Urban retail sales grew by 3.6% in 2025, while rural sales increased by 4.1%, indicating relatively stronger consumption momentum in lower-tier markets. Monthly growth rates for both segments followed a similar trajectory to the national total, with firmer conditions mid-year and softer readings toward December.

Overall, the data point to a year of modest expansion rather than a broad-based acceleration. Consumption remained positive and slightly stronger than in 2024, supported by online spending and rural demand, but momentum weakened into year-end, underscoring an uneven recovery across segments and geographies.