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CN Last Dec Retail Sales Rise 0.9% YoY, Slightly Below Expectations
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The total retail sales of social consumer goods in December 2025 amounted to RMB4.51 trillion, up 0.9% YoY, slightly below the market consensus of a 1% rise, as announced by the National Bureau of Statistics (NBS). Of which, the retail sales of consumer goods excluding autos reached RMB3.97 trillion, growing by 1.7%.

The total retail sales of social consumer goods for 2025 amounted to RMB50.12 trillion, representing a 3.7% increase from that in 2024. Of which, the retail sales of consumer goods excluding autos were RMB45.14 trillion, hiking 4.4%.

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