China Sets 60 Trillion Yuan Retail Sales Target for 2030 in New Plan

Seven Chinese government agencies, including the Ministry of Commerce and the National Development and Reform Commission, have released joint guidelines aimed at expanding and upgrading commodity consumption. The plan sets a target for total retail sales of consumer goods to reach approximately 60 trillion yuan by 2030, while building 10-trillion-yuan markets in green, smart, and health-related products. Key initiatives include optimizing local automobile purchase restrictions, developing automotive aftermarket services, accelerating smart home adoption, and supporting silver-economy and domestic brand consumption.

The policy provides a concrete, quantified roadmap for China's retail expansion leading into the 15th Five-Year Plan period. By targeting key bottlenecks—such as municipal vehicle purchase limits and fragmented used-car transactions—policymakers seek to unlock household demand in big-ticket categories and sustain long-term economic momentum from domestic consumption.

Seven Chinese government agencies, led by the Ministry of Commerce, the National Development and Reform Commission (NDRC), and the Ministry of Industry and Information Technology (MIIT), have jointly released implementation opinions to expand and upgrade consumer goods consumption across the country. Under the guidelines, China aims to expand total retail sales of consumer goods to around 60 trillion yuan by 2030. The strategy seeks to cultivate multi-trillion-yuan scale markets in green, smart, and health consumption, while maintaining global market leadership in major retail categories such as automobiles, home appliances, communication devices, and textiles. The framework outlines four core priorities for commodity consumption: First, boosting durable goods consumption. The policy calls for deepening automotive circulation reforms and全-chain expansion of vehicle consumption. Crucially, authorities urged relevant jurisdictions to optimize automobile purchase restrictions to better satisfy consumer demand. The plan also supports the automotive aftermarket—including vehicle modifications, maintenance, motor sports, RV camping, and historic vehicle registration—alongside the establishment of a full-lifecycle vehicle information platform and mutual recognition of unified second-hand car sales invoices. Second, upgrading daily consumer goods. The plan seeks quality improvements across basic categories including food, beverages, textiles, apparel, and cultural, sports, and entertainment products. Third, supporting specialty and demographic-focused goods. Policymakers highlighted products tailored to both ends of the demographic spectrum—the elderly and young children—by boosting the silver economy and infant care sectors. It also encourages consumption of trendy domestic brands, high-quality foreign trade products, and international premium merchandise. Fourth, scaling up consumption upgrades. The measures encourage broader adoption of green, smart, and wellness products, including accelerating the rollout of integrated smart home systems. To support these objectives, the document specifies five institutional safeguards: improving urban and rural consumption channels, upgrading product standard systems, strengthening brand development, intensifying fiscal and financial support, and standardizing market order.