International experts discuss consumption upgrades at Tianjin Haihe forum

More than 300 government, business, and academia representatives from China and abroad gathered in Tianjin this week to discuss how consumption upgrades are reshaping the world's second-largest economy, with many highlighting the country's growing potential to boost domestic demand through a shift toward services and experience-driven spending.

Speaking at the 2026 Haihe International Consumption Forum on Thursday, participants said Tianjin's efforts to build itself into an international consumption hub offer a glimpse of broader changes taking place across China's consumer market.

Experts said Chinese consumers are increasingly shifting from purchasing goods out of necessity to spending on products and services that offer cultural, emotional, and lifestyle value, creating fresh opportunities for businesses and supporting economic growth.

Official data reflects the trend. Service retail sales rose 5.3 percent year-on-year in the first half of 2026, compared with 1.1 percent growth in retail sales of goods, according to the National Bureau of Statistics.

"In the Chinese market, this change is evident across various sectors, including dining, retail, health, and wellness," said Liu Xiaolong, a global partner of Kearney, a management consulting firm. "Consumers are paying attention not just to the products themselves but also to the surrounding environment, a sense of ceremony, and cultural experiences."

He added that commercial spaces are evolving from purely shopping venues into new spaces for emotional and experiential engagement.

Data shows that integrating cultural elements and interactive experiences into urban commercial spaces increases consumer dwell time by 2.5 times, while related service consumption grows by three to five times.

Marshall Mills, senior resident representative in China for the International Monetary Fund, remarked that China is in the process of transitioning to a consumption-driven economic growth model. The development of the service industry and the boost in consumption are expected to create a positive feedback loop.

"The next phase of China's development holds vast opportunities in its transition toward a service-oriented consumer economy," said Graeme Wallace, managing director at the British Chamber of Commerce in China.

A report released during the forum highlighted the achievements Tianjin has made over the past five years in building an international consumption hub, including innovations in consumption scenarios, upgrades in business models, and advancements in cross-sector integration.

Leveraging its unique resources, such as its port openness, Tianjin-style cultural heritage, European-style architecture, light manufacturing, and sports culture, Tianjin continues to develop new consumption experiences that reflect the city's distinctive identity.

"We firmly believe that the future of China's consumption growth will increasingly be driven by high-quality consumption, world-class services, and innovation," said Wallace.

Wang Jingxu and Zhang Jiashuo contributed to this story.