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MNI China Daily Summary: Wednesday, May 24:
China July Retail Sales May Return to Growth: Daily
China' July retail sales may record the first y/y growth since the pandemic at 2%, as online shopping data improved and cinemas reopened, according to Economic Information Daily citing Tang Weijian, the chief analyst with Bank of Communications. Investment in infrastructure in the first seven months could come in at 1.5% y/y after the government sped up construction projects, the Daily reported citing Lu Zhengwei, the chief analyst with Industrial Securities. The Paper cited Li Chao, an economist from Zheshang Securities, who said the demand side is expected to stabilize with the resumption of work and production. China's July data release is due on Friday.
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