AI Data Insight
In Q2 2026, China's total retail sales of consumer goods excluding autos climbed to 3,890 billion RMB, representing a nearly 3% monthly growth compared to the previous value of 3,778.1 billion RMB, demonstrating the resilience of core domestic demand. Although market consensus indicated that overall retail sales turned to a 0.6% year-on-year decline due to a plunge in auto buying sentiment, rigid-demand items such as grain, oil, beverages, and service consumption continued to steadily expand. Looking ahead, as the "15th Five-Year Plan" and special government bond policies take effect, core goods and service consumption are expected to continuously serve as growth engines capable of crossing the economic cycle.