China Consumption May Rebound on Stimulus: Times

China's consumption may rebound from the low level in August as policies to boost consumer demand kick in, the Securities Times said. During the Mid-Autumn Festival, travelers made about 88 million trips inside China, generating CNY37 billion in total tourist revenue, or 87.2% and 78.6% of the pre-pandemic levels in 2019, the newspaper said citing data by the Ministry of Culture and Tourism. The government has released measures to promote spending on new and second-hand vehicles, home appliances, furniture and catering following the sluggish August retail sales data, which would help to unleash more demand in the upcoming consumption peak season in September and October, the newspaper said citing analysts. China's retail sales managed to gain only 2.5% y/y in August, the slowest in a year, down from July's 8.5%.