Consumer Spending in China increased to 493247.20 CNY Hundred Million in 2023 from 450468 CNY Hundred Million in 2022. This dataset provides - China Consumer Spending - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Household final consumption expenditure (formerly private consumption) is the market value of all goods and services, including durable products (such as cars, washing machines, and home computers), purchased by households. It excludes purchases of dwellings but includes imputed rent for owner-occupied dwellings. It also includes payments and fees to governments to obtain permits and licenses. Here, household consumption expenditure includes the expenditures of nonprofit institutions serving households, even when reported separately by the country. Data are in current U.S. dollars.

In 2024, the average annual per capita consumption expenditure of households in China amounted to around 28,200 yuan. The consumption expenditure increased nominally by 5.3 percent and price-adjusted by 5.1 percent compared to the previous year.

In 2024, urban households in China spent approximately 28.8 percent of their consumption expenditure on food, tobacco, and liquor. Rural households spent a slightly larger share of their money on food items than urban households.

Key information about China Private Consumption: % of GDP

• China Private Consumption accounted for 39.6 % of its Nominal GDP in Dec 2023, compared with a ratio of 37.8 % in the previous year.
• China Private Consumption contribution to Nominal GDP ratio is updated yearly, available from Dec 1952 to Dec 2023, with an average share of 49.3 %.
• The data reached an all-time high of 70.8 % in Dec 1962 and a record low of 34.9 % in Dec 2010.

CEIC calculates Private Consumption as % of Nominal GDP from annual Private Consumption Expenditure and annual Nominal GDP. The National Bureau of Statistics provides Private Consumption Expenditure in local currency and Nominal GDP in local currency.


Related information about China Private Consumption: % of GDP

• In the latest reports, China GDP expanded 4.5 % YoY in Mar 2023.
• Its Nominal GDP reached 4,166.8 USD bn in Mar 2023.
• China GDP Per Capita reached 12,621.7 USD in Dec 2023.
• Its Gross Savings Rate was measured at 44.3 % in Dec 2023.

Consumer Confidence in China increased to 87.50 points in January from 86.40 points in December of 2024. This dataset provides - China Consumer Confidence - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Real Final Consumption Expenditure for China (NCRXDCCNA) from 1980 to 2019 about China, consumption expenditures, consumption, and real.

In 2024, the average annual per capita consumption expenditure of urban households in China amounted to around 34,600 yuan. The consumption expenditure of rural households reached more than half of the amount of their urban counterparts.

In 2023, final consumption of the economy in China accounted for about 55.7 percent of the gross domestic product (GDP). The share of final consumption in the total GDP of China is expected to increase gradually in the upcoming years. Level of consumption in China Final consumption refers to the part of the GDP that is consumed, in contrast to what is invested or exported. In matured economies, final consumption often accounts for 70 or more percent of the total GDP. In developing countries, however, a significantly larger share may be spent on investments in infrastructure, real estate, and industrial capacities.Since its economic opening up, China was among the countries with the highest ratio of spending on investment and the lowest on consumption. Especially since 2000, China spent increasing amounts of money on infrastructure and housing, while the share spent on consumption dropped to an all-time low. This was not only related to China’s rapid economic ascendence, but also to a large working-age population and a low dependency ratio. Recent developments and outlook As the rate of returns on investment has dropped gradually since the global financial crisis in 2008, China is trying to shift to a more consumption-driven growth model. Accordingly, the share of final consumption has increased since 2010. Although this trend was interrupted by the coronavirus pandemic, it will most probably continue in the future. Lower demand for new infrastructure and housing, as well as an aging population, are the main drivers of this development.

Consumption Expenditure per Capita: ytd: Urban: Guangdong: Shenzhen data was reported at 49,013.000 RMB in Dec 2023. This records an increase from the previous number of 44,792.900 RMB for Dec 2022. Consumption Expenditure per Capita: ytd: Urban: Guangdong: Shenzhen data is updated quarterly, averaging 19,779.090 RMB from Mar 2007 (Median) to Dec 2023, with 47 observations. The data reached an all-time high of 49,013.000 RMB in Dec 2023 and a record low of 5,300.830 RMB in Mar 2008. Consumption Expenditure per Capita: ytd: Urban: Guangdong: Shenzhen data remains active status in CEIC and is reported by Shenzhen Municipal Bureau of Statistics. The data is categorized under China Premium Database’s Household Survey – Table CN.HF: Consumption Expenditure per Capita: Prefecture Level City: Urban: Quarterly.

China Consumption Expenditure per Capita: Urban data was reported at 34,557.000 RMB in 2024. This records an increase from the previous number of 32,994.000 RMB for 2023. China Consumption Expenditure per Capita: Urban data is updated yearly, averaging 5,026.700 RMB from Dec 1957 (Median) to 2024, with 49 observations. The data reached an all-time high of 34,557.000 RMB in 2024 and a record low of 220.680 RMB in 1964. China Consumption Expenditure per Capita: Urban data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Household Survey – Table CN.HD: Expenditure per Capita.

China Consumption Expenditure per Capita data was reported at 28,227.000 RMB in 2024. This records an increase from the previous number of 26,795.679 RMB for 2023. China Consumption Expenditure per Capita data is updated yearly, averaging 3,138.800 RMB from Dec 1956 (Median) to 2024, with 47 observations. The data reached an all-time high of 28,227.000 RMB in 2024 and a record low of 88.200 RMB in 1956. China Consumption Expenditure per Capita data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Household Survey – Table CN.HD: Expenditure per Capita.

In 2023, the annual per capita private consumption expenditure in different regions in China varied from about 52.5 thousand yuan in Shanghai to about 1.7 thousand yuan in Tibet. The national average ranged at around 26.8 thousand yuan in that year.

China Consumption Exp per Capita: Urban: HS: Durable Consumer Goods data was reported at 431.520 RMB in 2012. This records an increase from the previous number of 423.810 RMB for 2011. China Consumption Exp per Capita: Urban: HS: Durable Consumer Goods data is updated yearly, averaging 213.570 RMB from Dec 1992 (Median) to 2012, with 21 observations. The data reached an all-time high of 431.520 RMB in 2012 and a record low of 74.630 RMB in 1992. China Consumption Exp per Capita: Urban: HS: Durable Consumer Goods data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Household Survey – Table CN.HD: Income and Expenditure per Capita: Urban.

Retail Sales in China increased 4 percent in February of 2025 over the same month in the previous year. This dataset provides - China Retail Sales YoY - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In the third quarter of 2024, China's FMCG market grew by approximately 2.5 percent compared to the year before. The beverage sector experienced the fastest growth compared to all other sectors year-on-year.

Key information about Hong Kong SAR (China) Private Consumption Expenditure

• Hong Kong SAR (China) Private Consumption Expenditure was reported at 71.821 USD bn in Dec 2024. This records an increase from the previous number of 67.275 USD bn for Sep 2024.
• Hong Kong SAR (China) Private Consumption Expenditure data is updated quarterly, averaging 24.391 USD bn from Mar 1973 to Dec 2024, with 208 observations.
• The data reached an all-time high of 71.821 USD bn in Dec 2024 and a record low of 1.172 USD bn in Mar 1973.
• Hong Kong SAR (China) Private Consumption Expenditure data remains in an active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Nominal GDP: Private Consumption Expenditure: USD: Quarterly.

CEIC converts quarterly Private Consumption Expenditure into USD. Census and Statistics Department provides Private Consumption Expenditure in local currency. Federal Reserve Board average market exchange rate is used for currency conversions.

Consumption Expenditure per Capita: Urban: Guangdong data was reported at 41,055.000 RMB in 2024. This records an increase from the previous number of 39,333.000 RMB for 2023. Consumption Expenditure per Capita: Urban: Guangdong data is updated yearly, averaging 7,839.400 RMB from Dec 1978 (Median) to 2024, with 47 observations. The data reached an all-time high of 41,055.000 RMB in 2024 and a record low of 400.000 RMB in 1978. Consumption Expenditure per Capita: Urban: Guangdong data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Household Survey – Table CN.HD: Consumption Expenditure per Capita: Urban.

China Consumption Expenditure per Capita: Services: YoY data was reported at 7.400 % in 2024. This records a decrease from the previous number of 14.400 % for 2023. China Consumption Expenditure per Capita: Services: YoY data is updated yearly, averaging 10.800 % from Dec 2014 (Median) to 2024, with 11 observations. The data reached an all-time high of 17.800 % in 2021 and a record low of -8.600 % in 2020. China Consumption Expenditure per Capita: Services: YoY data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Household Survey – Table CN.HD: Expenditure per Capita.

In January 2025, the index for consumer confidence in China ranged at 87.5 points, up from 86.4 points in the previous month. The index dropped considerably in the first half of 2022 and performed a sideways movement during 2023 and 2024. Consumer confidence Index The consumer confidence index (CCI), also called Index of Consumer Sentiment (ICS) is a commonly used indicator to measure the degree of economic optimism among consumers. Based on information about saving and spending activities of consumers, changes in business climate and future spending behavior are being projected. The CCI plays an important role for investors, retailers, and manufacturers in their decision-making processes. However, measurement of consumer confidence varies strongly from country to country. As consumers need time to react to economic changes, the CCI tends to lag behind other indicators like the consumer price index (CPI) and the producer price index (PPI). Development in China As shown by the graph at hand, confidence among Chinese consumers picked up since mid of 2016. In October 2017, the CCI hit a record value of 127.6 index points and entered into a sideward movement. Owing to a relative stability in GDP growth, a low unemployment rate, and a steady development of disposable household income, Chinese consumers gained more confidence in the state of the national economy. Those factors also contribute to the consumers’ spending power, which was reflected by a larger share of consumption in China’s GDP. After the outbreak of the coronavirus pandemic, consumer confidence dropped quickly in the beginning of 2020, but started to recover in the second half of the year, leading to a v-shaped movement of the index in 2020.