Story perspectives

HSBC: China's Young Consumers Drive Spring Festival Spending

1/27/2026

Summary

Story summary

HSBC (The Hongkong and Shanghai Banking Corporation) reports China's consumption is evolving, with young consumers spending on anime and comics and seniors' wellness.
The Spring Festival is expected to boost the food, hotel, and tourism sectors, especially snack foods and dairy products.
Retail sales growth slowed to 0.9% in December 2025.
The agriculture ministry plans to stabilize beef and dairy production amid a supply glut and to enhance credit support.

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Story summary

HSBC (The Hongkong and Shanghai Banking Corporation) reports China's consumption is evolving, with young consumers spending on anime and comics and seniors' wellness.
The Spring Festival is expected to boost the food, hotel, and tourism sectors, especially snack foods and dairy products.
Retail sales growth slowed to 0.9% in December 2025.
The agriculture ministry plans to stabilize beef and dairy production amid a supply glut and to enhance credit support.