China's consumption data for 2025 remained robust, with retail sales reaching 50.12 trillion yuan, up 3.7% year on year. In an interview with CGTN, Daniel Yao, Head of Research for JLL China, attributed this momentum to sustained policy support — notably the trade-in policy — alongside evolving consumer preferences. He also shared key trends emerging in 2025 and their potential impact on the market in 2026.