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CHINA PRESS: First-tier Consumption Falls After Income Weakens

CHINA PRESS

Retail sales in Beijing, Shanghai and Guangzhou fell 6.3%, 9.4% and 9.6% y/y in June, as the property downturn impacted residents' consumption, Caixin reported. Beijing and Shanghai saw per capita disposable income growth reach 4.2% and 4.4% y/y in H1, the lowest nationwide, Caixin noted. Consumption in central regions was outperforming tier-one cities due to population inflow and better balanced industries, the newspaper said.

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