AI Data Insight
China's wholesale goods sales reached 121.65 trillion RMB in the fourth quarter of 2025, a marginal increase of 2.04% compared to the previous year's 119.21 trillion, as overall growth continues to decelerate. Although the official "trade-in" policy successfully drove robust growth in sub-categories such as home appliances and communication equipment, overall domestic demand remains dragged down by the property market slump. It is expected that the authorities will further extend fiscal stimulus efforts in the future to boost consumer confidence and achieve supply-demand rebalancing.