AI Data Insight
In the first quarter of 2026, the per capita consumer spending of urban residents in China reached 9,635 yuan, reflecting a mild year-over-year growth of 2.9%. This indicates that while domestic demand continues to expand, its momentum has slowed somewhat. Institutions such as CITIC Securities point out that 2026 is a critical period for establishing the inflection point of consumer prosperity, with the policy side continuing to stabilize expectations through "trade-in" programs and fiscal easing. Moving forward, close attention should be paid to the recovery status of residents' income and the driving effects of service-oriented consumption.