Overview

• Retail sales rose 6.4% year on year in May, outpacing the 4.85% forecast by Wind and accelerating from April’s 5.1% gain.
• A national trade-in scheme has generated about 1.1 trillion yuan in appliance and household goods sales but has been suspended in several regions due to depleted funds.
• Automobile retail sales growth eased to 13.3% in May from 14.5% in April, according to the China Passenger Car Association.
• A new 90-day tariff truce with the US has rolled back most duties imposed since April, offering temporary relief to Chinese exporters.
• Consumers are preparing for the June 18 online shopping festival as authorities intensify stimulus measures to sustain domestic demand.