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Rong Hailou, the Chief Economist and Spokesperson for the State Taxation Administration, revealed that invoice data indicated a significant uptick in consumer spending trends from January to November this year. Specifically, the retail sector's sales revenue for communication gadgets, including mobile phones, witnessed a 20.3% year-on-year growth. Similarly, the retail market for household appliances like refrigerators experienced a robust 26.5% increase in sales revenue over the same period, underscoring the ongoing positive impact of consumption-boosting policies. In parallel, the new energy vehicle sector demonstrated sustained growth momentum, with market activity reaching new heights. Notably, the sales revenue for new energy passenger vehicles climbed 19.1% year-on-year during the January-November timeframe, reflecting a thriving and evolving automotive landscape.
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