MNI BRIEF:China's Nov Retail Prosperity Index Remains Above 50
MNI (BEIJING) - China’s Retail Prosperity Index reached 51.0 in November, down from 51.4 in October, but remaining above the expansion mark of 50.0 for the third consecutive month, the China General Chamber of Commerce said on Wednesday.
Recent index results indicate government policy support for exchanging consumer goods was making a significant impact on the consumption of household appliances and automobiles.
November’s Double Eleven e-commerce shopping festival was also noticeable, the Chamber said, highlighting the e-commerce business index reaching 51.6, up 1.9 percentage points from the previous month.
Calls for Beijing to establish a stock market stabilisation fund are likely premature, particularly as the A-share market continues to perform, advisors and analysts told MNI, noting policymakers will pursue its introduction in due time to encourage more long-term investors. (See MNI: China Stock Stabilisation Fund Talk Premature-Advisors)