MNI BRIEF: China Consumption Can Continue Acceleration - NBS
China’s consumer market can continue accelerating following retail sales growing by 3.7% y/y in May to hit a three-month high, Liu Aihua, spokesperson for the National Bureau of Statistics said on Monday.
Speaking to reporters, Liu said consumer demand will benefit from authorities implementing the trade-in policy for durable consumer goods, with growth seen in digital, health, and green consumption.
Overall, China’s economy was generally stable in May, but domestic effective demand remained insufficient meaning efforts should be made to effectively use macroeconomic policy, Liu added.
China’s upcoming third Plenum Session in July will focus strongly on real-estate and the unified national market reform, alongside corporate vitality and regional coordinated development, advisors recently told MNI. (See MNI: China's 3rd Plenum To Target Real Estate; Rural Reform Eyed)