AI Data Insight
China's Q4 2025 retail sales of goods reached 184,849.4 billion RMB, growing by approximately 4.6% compared to the 176,723.8 billion RMB in the same period last year, hitting a record high. Although the gloom of a weak housing market and cautious consumer confidence remains, benefiting from official "trade-in" subsidies and the momentum of online channels, the overall consumption data still held the bottom line of positive growth. Looking ahead, the market will continue to monitor whether the policy effects can be sustained, and the recovery momentum of physical domestic demand will be the core focus of observation for the medium to long term.