China's Wholesale and Retail Sectors Show Stable Growth in Q1 2026

Beijing (ANTARA) - China’s Ministry of Commerce reported on Monday that the wholesale and retail sectors recorded stable growth in the first quarter (Q1) of 2026, providing solid support for building a strong domestic market. The ministry noted that from January to March, the value added in China’s wholesale and retail trade grew 4.1% year-on-year to 3.5 trillion yuan (1 yuan = Rp2,528) or approximately 510.4 billion US dollars (1 US dollar = Rp17,278), accounting for 10.5% of the country’s gross domestic product (GDP). In the wholesale sector, the transaction volume in major commodity markets monitored by the ministry rose 8.6% year-on-year in Q1 2026, with volumes in production materials and industrial consumer goods markets increasing by 16.1% and 10.7%, respectively. In the retail sector, retail sales of goods reached 11.3 trillion yuan in Q1 2026, up 2.2% year-on-year. Online retail also maintained rapid growth in rural areas. In Q1 2026, online retail sales in rural areas rose 11% year-on-year, while online retail sales of agricultural products increased by 14.7%. The trade-in programme for consumer goods continued to gain momentum. Smart glasses, which for the first time qualified for subsidies this year, emerged as a new highlight. Driven by these policies, major companies recorded a 42.4% increase in smart glasses sales volume and a 46.8% increase in value year-on-year in Q1 2026.