Premium Consumption in China Rebounds in June
The Ministry of Commerce stated that the retail sales of goods in Jun recovered to CNY 3 trillion in the same period last year. Among them, the consumption of daily necessities maintained rapid growth, and the sales of grain, oil, food, daily needs, and medicine increased by 10.5%, 16.9% and 9.7% YoY, respectively.
The consumption of upgraded products rebounded significantly. The sales of communication equipment, cosmetics, and home appliances increased by 18.8%, 20.5% and 9.8% respectively, and the growth rate rebounded by 7.4, 7.6 and 5.5 percentage points respectively.
This text is a result of machine translation.
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