On February 6, the Research Institute of China Council for the Promotion of International Trade (CCPIT) released the "Report on the Development of China's Consumer Market in 2018" and it is estimated that the nominal growth rate of the total retail sales of consumer goods will be around 10%. The total retail sales of consumer goods will exceed 40 trillion yuan. Zhao Ping, director of the International Trade Research Department of CCPIT Research Institute, believes that in 2018, driven by innovative product consumption and service consumption, the penetration rate of middle and high-end consumption in middle-income groups will be higher and higher, thus further boosting the consumption scale of our country. In Zhao Ping's view, the consumption of innovative products and services is the main direction for the upgrading of consumption structure in 2018. "With the growing sophistication of artificial intelligence, the internet, cloud computing and big data technologies that apply to traditional consumer products such as furniture, appliances and automobiles, there is huge room for growth in these consumer goods." In terms of service consumption, as China enters the ranks of middle-income countries, the growth rate and proportion of the consumption of goods continue to drop, and the growth of consumption relies more on service consumption. She believes that in 2018, the Internet-related innovations in consumer experience will be the most important engines of annual growth in consumption. The report also pointed out that the basic role of consumption in economic development is further strengthened. It is estimated that the contribution rate of consumption in the whole year will remain above 60% and the consumption rate will exceed 55%. The gap in consumer spending between urban and rural areas and in the eastern, central and western regions is gradually narrowing. It is estimated that the total retail sales of consumer goods in rural areas in China will have a growth rate of 1 to 2 percentage points faster than that of urban areas this year, an increase of 12%.