CCTV News: Since the beginning of this year, the "combination punch" of consumption-promoting policies has effectively leveraged the huge potential of domestic demand, and hot spots in many areas of consumption have frequently appeared, showing a vigorous and upward development trend.

The offline consumption popularity index compiled by the National Information Center showed that it increased by 13.6% year-on-year from January to February, an increase of 7.2 percentage points from December last year. The popularity of offline consumption continues to rise, especially this year, the old-for-new policy has expanded the scope of subsidies, and the increase in home appliances from "8+N" to "12+N" has become the focus of consumers' attention.

Data from the Ministry of Commerce shows that as of March 5, more than 9.4 million consumers have purchased more than 12 million units of 12 major household appliances for new products, and more than 34 million consumers have applied for new subsidies for purchases of more than 42 million mobile phones and other digital products.

Commodity consumption is booming, and the growth rate of service consumption is rebounding. The National Information Center's popularity index for life service consumption constructed by the e-commerce platform increased by 20.1% year-on-year from January to February. Among them, the popularity of leisure, entertainment, catering and tourism increased by 79.1%, 15.4% and 5.9% year-on-year respectively.

Experts said that since the beginning of this year, the consumer market has seen frequent highlights, showing strong vitality and potential, and providing strong support for economic growth. The fundamental role of consumption in economic growth is becoming increasingly prominent.