2025年中国商业领域十大亮点

Whattheexperts

sayTen

HighlightsofChina’sCommercial

Sector2025January2025HK

UST

LI

&

FUNGSUPPLYCHAININSTITUTE01Preface02About

the

Organizations03Expert

Panel

Members04Implicationsfor

Businessesand

Tipsfor

Enterprises08Ten

Highlightsfor2025ContentsPrefaceThe

HKUST

Li&

FungSupplyChain

Instituteandthe

Expert

Committee

oftheChinaGeneralChamberofCommerceare

pleasedto

present

the

22nd

editionofourannual

Ten

HighlightsofChina’s

CommercialSectorreport.In2024,China’scommercialsectorcontinuedto

evolve,

driven

by

a

combinationof

policysupportandshiftingconsumer

behaviours.Thisyear

has

seensignificant

developments

in

digital

transformation,service

consumption,andenvironmentalsustainability

inthecommercialsector,

reflectingthedynamicnatureofthemarketandthe

resilienceof

businesses

operatingwithin

it.Serviceconsumption

has

remaineda

keygrowtharea,with

consumersincreasingly

seeking

diverse

and

high-quality

experiences.

Innovations

inservice

models,such

as

the

integration

of

commerce,

culture,

tourism,

sports,and

health,

have

playedacrucial

role

inthisgrowth.Thegovernment’semphasis

on

building

a

high-quality

service

industry

has

further

supported

thesetrends,creating

new

opportunities

for

businesses

to

thrive.The

competitive

landscape

has

intensified,with

businesses

facing

shrinkingprofitmarginsand

highturnover

rates.

However,companiesthatfocus

oncost

control,efficiency

improvements,and

innovative

business

models

havemanaged

to

navigate

these

challenges

successfully.The

importance

of

agileand

resilient

supply

chains

has

also

become

evident,

particularly

for

enterprisesexpanding

into

overseas

markets.

For

companies

that

go

global,

effectivelocalization

strategies

and

strategic

partnerships

are

key

to

success

in

regionslikeSoutheastAsia,the

Middle

East,and

LatinAmerica.With

inputfrom

morethan

160top-tier

mainlandexperts,

Ten

Highlightsonceagain

identifies

top

trends

of

the

past

year

and

anticipates

the

developmentsthatwillshapeChina’scommercial

landscape

in

2025.In2025,China’scommercialsector

isexpectedto

continue

growing,

drivenby

increased

domestic

consumption

and

technological

advancements.Thegovernment’sfocusoncreatinga

unified

nationalmarketwill

further

streamlinethe

trade

system

and

enhance

market

competitiveness.

The

service

sector,particularly

e-commerce

and

digital

services,will

continue

to

expand,

fuelledby

rising

consumer

expectations

for

convenience

and

experience.Additionally,sustainability

will

play

a

crucial

role,as

consumers

increasingly

demand

eco-friendly

products.Theemerging

ruralmarketswill

present

newopportunitiesforbusinesses,while

fierce

competition

will

necessitate

innovative

strategies

andeffective

localizationtomeetdiverseconsumer

needs.Ten

Highlightsisavaluable

resourceforglobal

brandsand

retailers,

andfirmsand

individuals

seeking

to

better

understand

the

latest

commercial

trends,issues,andopportunities

inChina.Wewishtothank

all

panel

members

ontheExpertCommitteeforsharingtheir

important

insights,andour

colleagues

atHKUST

Li&

FungSupplyChain

Institutefortheir

manycontributions.Helen

ChinHKUST

Li&

FungSupplyChain

Institute1HKUST

Li&

FungSupplyChain

InstituteThe

HKUST

Li&

FungSupplyChain

Institute

(Institute)accelerates

the

creation,

globaldissemination,and

practical

application

ofnew

knowledgeformanagingtomorrow’ssupply

chains.The

Instituteseeksto

develop

localand

internationaltalent

insupplychainmanagement

through

teaching,

professionaldevelopment,and

exchanges

at

specialistconferences.

It

bringstogether

leaders

inindustry,academia,and

the

public

sector

ina

newcollaborationfor

research,executiveeducation

and

practice

focused

on

innovationin

businessmodels,sustainable

supplychain

design,

process

re-engineering,andthe

rapid

adoption

of

new

technologies.Theseoutcomesarevital

in

addressingthe

needforvisionary,

innovativesupplychainmanagement

intheface

of

rapidtechnological

advancements,disruption

fromgeopolitical

tensions,and

concerns

related

tosustainability

and

climate.Jointlyestablished

by

HKUSTandsupplychain

industry

leader

Li&

Fung,the

Institutebrings

together

research

excellenceand

industry

expertise

in

supply

chainmanagementtodrive

real-world

impactacrosstheGreater

BayArea,Greater

China,Asia,and

globally,while

contributing

to

HongKong’sdevelopmentasa

multinational

supplychain

management

center.The

ExpertCommitteeofthe

ChinaGeneralChamberof

CommerceThe

ExpertCommitteeofthe

China

GeneralChamberofCommerce

(ECCGCC),asub-division

of

the

CGCC,

comprisesover

160

prominentexpertsfromvariousgovernment

departments,

research

institutesand

universities,

leading

corporations,professional

associations,consultancy

firmsand

newspaper

offices,which

include

theMinistryofCommerce,theChineseAcademy

ofSocialSciences,China

Chain

Store

andFranchiseAssociationandthe

RenminUniversityofChina,etc.The

ECCGCC

servesas

a

platform

for

the

experts

to

exchangeideas

on

the

development

of

commercialenterprises

and

the

distribution

sector.TheChinaGeneralChamber

of

CommerceFounded

in

1994,theChina

GeneralChamberofCommerce(CGCC)

has

around

80,000members,encompassing

enterprises

from

retail,distribution,servicesand

tourismsectors,

local

commercial

chambers,

nationalprofessional

associations,

intermediaryorganizations

and

individuals.CommissionedbytheChineseGovernment,

the

CGCCconsistsof

14

businesscommittees.

Italsosupervises40

nationalassociationsand

33

newspapersandmagazines

published

bothinside

and

outside

China.AbouttheOrganizations2Cao

LishengViceChairman;Secretary,Deputy

Director,Senior

EconomistChina

General

Chamber

of

Commerce;China

NationalCommercial

Information

CentreChanSo

ChingHeadHKUST

Li&

FungSupply

Chain

InstituteChang

Ka

MunExecutive

Director;MemberHKUST

Li&

FungSupply

Chain

Institute;Chinese

People’s

PoliticalConsultativeConference(1998–

2018)Chen

LipingProfessorCapital

Universityof

Economicsand

BusinessDingJunfaFormer

Executive

ViceChairman,

Research

FellowChina

Federationof

Logistics&PurchasingFu

LongchengViceChairman;Director,Senior

EconomistChina

General

Chamber

of

Commerce;ExpertCommitteeofthe

China

GeneralChamber

of

CommerceFu

YuehongPresidentBeijingChamberof

CommerceGan

WeiPresidentChina

General

Chamber

of

Commerce;Commercial

Logistics

and

Supply

ChainBranchGuoXinmeiProfessorFacultyof

Economics,

BeijingTechnology

and

Business

UniversityHong

TaoProfessorBeijingTechnologyand

BusinessUniversityHu

BinPresident,Chief

EditorChina

Business

HeraldHuang

HaiFormer

MinisterAssistant,ResearcherMinistryof

CommerceLai

YangResearcher;PresidentBeijingCollegeof

Finance

andCommerce;Beijing

Jingshang

Circulation

StrategyResearch

InstituteLi

GangDirectorDepartment

of

Circulation

IndustryDevelopment,

MinistryofCommerceLi

TaoDeputy

Director;GroupChief

Representative–

Northern

ChinaExpertCommitteeofthe

China

GeneralChamber

of

Commerce;Li&

Fung(Development)

China

Ltd.Luan

BoDeputySecretaryGeneral,Office

DirectorChina

General

Chamber

of

CommerceMaZengjunPresidentChinaAgricultureWholesale

MarketAssociationPengJianzhenPresidentChinaChain-Store&

FranchiseAssociationRenXingzhouFormer

Director,Research

FellowInstitutefor

Market

Economy,Development

ResearchCenterofthe

StateCouncilSong

YuanyuanDeputy

DirectoroftheGeneralOfficeChina

General

Chamber

of

CommerceSongZeResearch

FellowNationalAcademyof

EconomicStrategy,Chinese

Academy

of

Social

SciencesTangShaojuanPresident,Chief

LecturerIBMGCommercialThinkTankWang

DongtangDirectorDepartmentofTrade

inServices

andBusinessServices,

MinistryofCommerceWang

WeiFormer

Director,Research

FellowInstitutefor

Market

Economy,Development

ResearchCenterofthe

StateCouncilWangXiaodongProfessorBusinessSchool,

Renmin

Universityof

ChinaWu

YingViceChairmanChinaCuisineAssociationXie

LijuanProfessorBusinessSchool,

Renmin

Universityof

ChinaXuXingfengDirectorDepartmentof

MarketOperationandConsumption

Promotion,

Ministryof

CommerceYangJinlongDeputySecretaryGeneral,Director

oftheSecretariatExpertCommitteeofthe

China

GeneralChamber

of

CommerceYangQingsongSecretaryGeneralChinaCommerceAssociationforGeneral

MerchandiseYao

LimingFormer

Director,Research

FellowChina

Commercial

Group

CommercialEconomic

ResearchCenterYiShaohuaDirector,Research

FellowInstituteof

DistributionandConsumption,NationalAcademyof

EconomicStrategy,Chinese

Academy

of

Social

SciencesYu

DiDeputy

Director,SecretaryGeneralExpertCommitteeofthe

China

GeneralChamber

of

CommerceZhang

HaoResearcher;Deputy

DirectorNationalAcademyof

EconomicStrategy,Chinese

Academy

of

Social

Sciences;Editorial

Department,Finance

and

TradeEconomicsZhouQiangDirectorDepartmentof

MarketSystemDevelopment,

MinistryofCommerceExpert

Panel

Members3Implicationsfor

Businessesand

Tipsfor

EnterprisesIn2024,China’scommercialsectordemonstrated

remarkable

resilience

and

adaptability,

driven

bya

combination

of

supportive

government

policies

and

evolving

consumer

behaviours.The

year

sawsignificant

progress

in

digital

transformation,service

consumption,and

environmental

sustainability

in

thecommercialsector,

reflectingthedynamic

natureofthemarket.

Government

initiatives

aimed

at

boostingdomesticconsumptionandstabilizingthe

realestate

market

playeda

crucial

role

in

fostering

a

thrivingbusiness

environment,despite

challenges

such

as

low

consumer

confidence

and

economic

uncertainties.Several

keysectorscontributedtothegrowthof

China’s

commercial

sector

in

2024.

Service

consumptioncontinued

to

expand,with

innovations

in

service

models

integrating

commerce,

culture,

tourism,

sports,and

health.

E-commerce

platforms

led

the

way

in

transforming

shopping

experiences

through

livestreamshopping,mobile

payments,and

blockchain

technology,while

enhancing

supply

chain

efficiency

andtransparency.Additionally,the

riseofcounty-levelmarketsandthe

increasing

demand

for

green

andhealthy

products

highlighted

new

opportunities

for

businesses

to

tap

into

emerging

consumer

trends.Lookingaheadto2025,China’scommercialsector

is

poised

for

continued

growth.

Key

trends

such

asincreasing

discretionary

spending,

rising

rural

consumption,the

rapid

expansion

of

the

silver

economy,and

growing

demand

for

environmentally

friendly

products

are

expected

to

drive

the

consumer

market.Government

policies

aimed

at

bolstering

people’s

incomes

and

consumption

will

further

support

thisgrowth,

benefiting

both

urbanand

rural

residents.

Businesseswillalso

intensifytheirefforts

inareas

likeonline-offline

integration

and

cross-border

e-commerce

to

capitalize

on

the

evolving

economic

and

tradelandscape,contributing

to

a

vibrant

market

in

the

year

ahead.PolicysupportfordomesticconsumptionChina’sgovernment

iscommittedtocreatinga

unified

national

market,

aimed

atstreamlining

and

integrating

the

domestic

and

foreign

trade

systems

and

reducingregional

barriers.This

initiative

is

notjusta

policydirective

butastrategic

moveto

enhance

market

efficiency

and

foster

a

competitive

business

environment.(Highlight

1)The

government

has

emphasized

expanding

domestic

demand

as

a

primarydriverofeconomicgrowth.Thisfocus

isevident

invarious

initiatives

aimed

atempowering

consumers,such

as

stabilizing

the

real

estate

market,

boosting

capitalmarkets,and

investments

in

both

physicalanddigital

infrastructuretofacilitateeasier

access

to

goods

and

services.A

key

component

of

this

policy

is

theconsumer

goods

trade-in

programme,which

provides

subsidies

for

consumers

toreplacetheiroldappliancesfor

newones.This

initiative

hasstimulated

demand

inthe

relevant

retailsectorsand

boostedsalesformanufacturers.

(Highlight

2)Ourtake:Foreignenterprises

shouldaligntheirstrategieswiththesenationalpolicies.This

can

be

achieved

by

focusing

on

local

market

needs

and

leveraginggovernment

incentives.

Forexample,

participatingintrade-inprogrammes

canprovide

a

competitive

edge,allowing

foreign

brands

to

tap

into

the

growingconsumer

baseeagerfornew

products.

Additionally,

understanding

regionalmarket

dynamicsiscrucial.

Differentprovincesmay

havevaryingconsumerbehavioursand

preferences;thus,

localized

marketing

strategieswillenhance

brand

resonance

.4Growth

inserviceconsumptionTheservicesector

inChina

has

becomea

rapidlygrowing

and

high-potentialarea.

Innovations

inserviceconsumptionmodels–suchas

integrating

commerce,culture,tourism,sportsand

health–aredrivingthis

growth.

(Highlights

2

&

8)The20th

PartyCongress

reportandtheStateCouncil’s

Opinionson

PromotingtheHigh-Quality

Development

ofService

Consumption

underscorethenecessityof

buildingahigh-quality,efficientservice

industry.This

includes

promotingnewserviceconsumptionmodels

likethe‘nighteconomy’,whichencourages

businessesto

cater

to

consumers

during

evening

hours,

and

cultural

consumption,whichcentresaround

regionalcultureandculturalcelebrations.(Highlights

2,

3,

5

&

8)Forexample,cities

likeShanghaiand

Beijing

haveexperienced

a

surge

in

nightmarkets

and

cultural

activities,offering

a

variety

of

food,

entertainment

and

culturalproductsthatattracts

both

localsandtourists.Thisshift

inconsumption

patternspresentsopportunitiesforforeign

businessesto

innovatetheirserviceofferings.Ourtake:Foreignenterprises

should

innovatetheirserviceofferingstocaterto

theevolving

preferencesofChinese

consumers

.

Integrating

digitalandexperientialelementsintoservices–suchasvirtualreality(VR)

experiences

–

can

significantlyenhance

customer

engagement.

Brandsthatsuccessfully

createunique,memorable

experiencesarelikelytofosterstronger

brandloyaltyandrepeatbusiness.AccelerateddigitaltransformationDigital

technology

is

crucial

for

promoting

service

consumption

in

China,particularly

in

ruralareasthat

havetraditionally

lagged

behind

urbancentres.The

integrationofdigitalservices

into

ruralconsumptionchannels

is

expandingconsumer

experiences

and

reshaping

how

products

and

services

are

delivered.(Highlights3

&

4)E-commerce

platforms,

like

PDD,Xiaohongshu,Taobao,and

Douyin,areattheforefront

of

this

transformation,

innovating

shopping

scenarios

by

incorporatingsocial,entertainment,

health,andsmartelements

intotheshopping

process.

Forinstance,

livestreamshopping

has

become

immensely

popular,allowing

brandsto

engage

directly

with

consumers

real-time,

providing

an

interactive

shoppingexperience.(Highlights6

&

8)Additionally,theutilizationofdigitaltechnology

in

logisticsandtransactions

has

alsoenhancedtheefficiencyandtransparencyofthesupplychain.

(Highlights8,

9

&

10)Ourtake:Foreignenterprises

should

prioritize

investmentindigitaltransformationto

enhance

operational

efficiency

and

customer

engagement.

Utilizing

advancedtechnologies

suchasartificial

intelligence(AI)for

personalizedrecommendations,blockchain

for

transparent

supply

chains,and

Internet

of

Things(IoT)for

smartinventory

management

can

significantly

improve

servicedeliveryandcustomersatisfaction.

Companies

that

embrace

these

technologies

will

be

better

positionedto

respond

to

consumer

needs

and

market

changes.5Adaptationamidst

intensifiedcompetitionThecompetitive

landscape

inChina

has

become

increasinglyfierce,with

highturnover

rates

in

bothcateringand

retailing.

Declining

profits

have

promptedmanysupermarkets

and

hypermarkets

to

close

underperforming

stores

to

cut

losses.(Highlights5,

6

&

9)Theclosureofstores

is

not

merelya

reactionto

market

pressures

but

a

strategicdecisiontominimize

lossesand

refocus

resources.

For

instance,well-knownsupermarketchains

likeWalmartandYonghuiare

increasingly

prioritizingonlinesales

and

delivery

services

to

adapt

to

changing

consumer

preferences.

However,thisshift

intensifiescompetition

inthedigital

marketplace.Ourtake:Tostaycompetitive,foreignenterprises

mustfocusoncostcontrolandefficiency

improvements.

Implementing

innovative

business

models–suchas

subscription

servicesor

loyalty

programmes

–can

enhance

customervaluepropositionsandfosterbrandloyalty.

Moreover,

continuous

marketanalysistoidentify

consumer

trendsand

preferenceswillhelp

businesses

remainagileandresponsive

to

market

demands.GlobalexpansionasagrowingtrendAsChineseenterprisesseekgrowth

beyondtheir

borders,emerging

markets

inSoutheastAsia,the

Middle

East,and

LatinAmerica

have

become

keytargetsforglobal

expansion.These

regions

present

significant

growth

opportunities

due

totheir

expanding

consumer

bases,

increasing

urbanization,and

rising

disposableincomes,which

collectively

drive

demand

for

a

diverse

range

of

products

andservices.However,the

pathtosuccess

inthesemarkets

is

notstraightforward.The

successof

retailenterprisesabroad

hingesoneffective

localizationstrategies.

Companiesthat

have

failed

to

adapt

to

local

regulations,cultural

preferences,and

consumerbehaviours

haveoftenencountered

numerouschallenges.

Firmsthatoverlookedcompliancewith

local

laws,suchas

importtariffsand

labour

regulations,foundthemselves

facing

operational

hurdles

that

could

have

been

mitigated

with

properresearchand

planning.(Highlight

10)Our

take:

Enterprises

should

conduct

thorough

market

research

to

understand

theunique

preferencesandcultural

nuancesoflocal

consumers

inoverseas

markets.Adapting

products

and

services

to

meet

these

preferences

is

essential

for

success.Additionally,

building

resilient

supply

chains

and

forming

strategic

partnerships

withlocal

businessescan

enhanceglobalexpansionefforts.

Collaborating

with

localinfluencers

and

leveraging

their

understanding

of

the

market

can

also

facilitatesmootherentryinto

new

regions.6Advancementofcounty-levelcommerceThe

rapideconomicdevelopmentofcounty-levelareas

in

China

is

noteworthy,withasignificant

increase

inthe

numberofcountiesachieving

an

annual

GDPexceeding

100

billionyuan.Thisgrowth

reflectsa

burgeoningconsumer

base

in

these

regions.As

urbanareas

becomemoresaturated,county-level

markets

presentfreshopportunitiesfor

businesses.

Ruralconsumersare

increasingly

lookingforquality

products

and

services,

indicating

a

shift

in

consumption

patterns.Thistrend

is

further

enhanced

by

government

support

and

improved

infrastructure,makingthesemarketsevenmoreattractivefor

businesses

looking

to

expand.(Highlight4)Ourtake:

Foreignenterprisesshouldexploreopportunities

incounty-levelmarkets

bytailoringtheirofferingstomeet

localdemands.

Establishing

effectivelogistics

and

distribution

networks

will

be

crucial

for

penetrating

these

markets.For

instance,companies

can

consider

partnerships

with

local

government

anddistributors

to

ensure

efficient

delivery

and

stock

management,

addressing

theuniquechallenges

posed

by

rural

logistics.HeightenedfocusontheenvironmentThegrowingawarenessofenvironmental

issuesamong

Chinese

consumers

hasledtoasignificantshifttowardsgreen

and

healthy

consumption.

Consumersare

increasingly

demanding

high-quality,traceable,and

pollution-free

products,particularly

intheagriculturalsector.(Highlights

5

&

7)Thistrend

isevident

inthe

risingconsumer

preferencefororganicandsustainably

sourced

products.

Brands

that

provide

transparency

in

their

supplychains,such

as

detailed

sourcing

information

and

eco-friendly

packaging,are

notonlygainingtraction

butalsoenhancingconsumer

trust

and

loyalty.(Highlight9)Ourtake:Toalignwiththistrend,foreignenterprises

should

prioritizeenvironmental

sustainability

intheiroperations.

Adopting

eco-friendly

practices–such

as

reducing

plastic

use,

optimizing

energy

consumption,and

implementingwaste

management

strategies–can

enhance

brand

reputationandattractconsumers

whovalue

sustainability.

Furthermore,

marketingtheseeffortseffectivelycan

differentiate

brandsina

competitive

market.704Thecontinuousexpansionand

upgradingofcounty-levelcommerce

highlightsconsumptionvitalityTen

HighlightsofChina’s

CommercialSector202502Consumermarketexperiencessteadygrowthdrivenby

policy

support03Upgrades

inserviceconsumptionwithfurthergrowthonthe

horizon01Buildingofa

unified

national

marketanddevelopmentof

newqualityproductiveforcesenhanceefficiencyinthecirculationsystem05Cateringsectorprioritizesvaluefor

moneyandpromotesgreen,healthyconsumption806Retailers

renewfocusonproductsandservicestomeetconsumers’need10Globalexpansionbecomesinevitable,withcomplianceand

localizationbeing

key09Pioneeringcostoptimizationandefficiencyenhancementtodriveexcellenceandhigh-qualitydevelopment

incommercial

logistics08Digitalconsumption

unlocks

newgrowthfordomesticdemandwhiledigitalculturalconsumptiondriveslifestylechanges07Continuedstrongdemandforfresh,high-qualityproducedrivesconsumptiongrowth9Buildingofa

unified

nationalmarket

and

developmentofnewquality

productive

forcesenhanceefficiency

inthecirculationsystem0110The

Third

Plenumsetsthedirectionfor

buildinga

unified

national

marketDuringtheThird

PlenarySessionof

the

20th

CentralCommitteeofthe

Communist

PartyofChina

held

inJuly2024,China

reiteratedtheneed

for‘building

a

unified

national

market’as

partof

itseffortstofoster

a

fair

and

well-ordered

businessenvironmentformarketplayers.The

imperativetoadopta

holistic

strategy–

pushingforthe

unificationof

marketinstitutionsand

rules,

impartialandconsistentmarket

supervision,and

high-standardinterconnectivityofmarket

infrastructure–wasstressed.TheChinese

governmentalsoproposed

improving

the

circulation

system,accelerating

the

development

of

the

InternetofThings,andfurther

refiningthe

integratedframework

of

circulation

rules

and

standardsto

reduce

logistics

costs

across

society.These

proposals

havefurtherclarifiedthedirection

and

tasks

necessary

for

improvingthecirculationsystemand

relevant

rulesand

standards,and

for

accelerating

theconstructionofa

unified

national

market.Unificationof

institut