On June 16, the State Council Information Office held a press conference to introduce the operation of the national economy in May 2026.
Fu Linghui, spokesperson, chief economist and director of the National Economic Comprehensive Statistics Department of the National Bureau of Statistics, said that the national economy was generally stable and improving in May.
At this press conference, the National Bureau of Statistics released the total retail sales of consumer goods and services for the first time.
From January to May, my country’s total retail sales of consumer goods and services increased by 2.8%.
Among them, the retail sales of services increased by 5.4%, and the retail sales of goods increased by 1.2%.
From January to May, the total retail sales of consumer goods was 20,603.1 billion yuan, a year-on-year increase of 1.4%.
In May, the total retail sales of consumer goods was 4.109 billion yuan, a year-on-year decrease of 0.6%.
By consumption type, retail sales of goods were 3,648.5 billion yuan, a year-on-year decrease of 0.7%; catering revenue was 460.5 billion yuan, an increase of 0.6%.
From January to May, the national online retail sales of goods and services reached 8,317.7 billion yuan, a year-on-year increase of 5.9%.
Among them, the retail sales of online goods were 5,271.8 billion yuan, an increase of 5.0%; the retail sales of online services were 3,045.9 billion yuan, an increase of 7.6%.
Fu Linghui pointed out that the total retail sales of consumer goods is an important indicator, but when observing consumption, we must take into account the consumption of goods and services.
This year, special actions to boost consumption have been implemented in various aspects to stimulate consumption potential. The overall scale of sales of goods and services in my country continues to expand, with many structural highlights.
The decline in retail sales of goods in May was mainly due to the high base in the same period last year and the impact of weather in some areas on offline consumption. Taken together, the consumer market is operating stably and the trend of quality improvement and upgrading has not changed.
The accelerated conversion of old and new driving forces is a distinctive feature of the current economic operation.
Wang Guanhua, spokesperson of the National Bureau of Statistics and deputy director of the National Economic Comprehensive Statistics Department, said that this year, our country has achieved new results in industrial quality improvement, digital empowerment, green transformation and other aspects, and has cultivated and strengthened new quality productivity.
In 2025, the intensity of investment in research and experimental development will exceed the OECD national average for the first time, and innovative results in aerospace, artificial intelligence, quantum computing, biomedicine and other fields continue to emerge.
The “Jiuzhang-4” quantum prototype machine broke the world record for optical quantum computing, and the domestically developed 600-kg thrust-class turbofan engine successfully made its first flight, providing scientific and technological support for the industrial transition.
Local governments are focusing on clearing up obstacles in the transformation of scientific and technological achievements. From January to May, my country authorized a total of 372,000 invention patents, a year-on-year increase of 12.1%. A number of high-value patents have accelerated their implementation in smart and green industrial scenarios.
In terms of investment, high-end equipment, intelligent manufacturing, green energy and other emerging fields continue to be deployed. From January to May, investment in electronic circuit manufacturing, lithium-ion battery manufacturing, and aircraft manufacturing increased by 50.9%, 24.9%, and 19.7% respectively year-on-year.
Residents’ consumption concepts have been upgraded, and new energy vehicles, high-energy-efficiency home appliances, and smart products are favored. From January to May, the retail sales of smart wearable devices, including smart glasses, more than doubled year-on-year.
In terms of foreign trade, my country’s total import and export of goods in May was 4,451.6 billion yuan, exceeding 4 trillion yuan for three consecutive months, a year-on-year increase of 16.9%.
In May, exports increased by 13.8% and imports increased by 21.5%. Imports grew faster than exports, and the growth rate of imports of commodities such as integrated circuits, iron ore and their concentrates accelerated.
High-tech and high-value-added products have become the main force in export growth. From January to May, the export of mechanical and electrical products increased by 18.4% year-on-year, accounting for over 60%; the export of artificial intelligence-related products such as integrated circuits and computer parts was eye-catching, and the export of green and low-carbon products such as lithium batteries and wind turbines increased by about 40%.
Private enterprises have been my country’s largest foreign trade business entity for many consecutive years. From January to May this year, the import and export of my country’s private enterprises increased by 15.5%, accounting for 57.1% of the total foreign trade value during the same period.
my country has actively deepened cooperation with global economic and trade partners. From January to May, the import and export volume with ASEAN, the European Union, and Africa all achieved double-digit growth, and the import and export volume with countries jointly building the “Belt and Road” increased by 13.6%, accounting for more than half of the total import and export volume.
In April, my country’s import and export volume to the United States turned from falling to rising year-on-year, and continued to grow in May.
Since May 1, my country has fully implemented zero tariffs for all African countries that have diplomatic relations with Africa. In May, imports from Africa increased by 15% year-on-year, increasing for nine consecutive months.
