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<Research>CICC: CN Aug Retail Sales Subdued MoM, Focus on Consumption-Boosting Policies
Recommend 12 Positive 11 Negative 17 |
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China's National Bureau of Statistics announced that the total retail sales grew 2.1% YoY to RMB3.87 trillion in August, with the growth rate down 0.6 ppts MoM, while the total retail sales climbed 3.4% YoY to RMB31.2 trillion from January to August, according to a report from CICC. Structurally, the service sector and online channels performed relatively well in August, while consumption in essential categories was notably resilient. It is recommended to pay attention to the trend of consumption recovery driven by policies such as trade-in programs to expand domestic demand and boost consumption. CICC adopted an optimistic outlook on the performance of leading companies in the light industrial, retail, and cosmetic sectors this year, with key recommendations for high-prosperity sector leaders including GIANT BIOGENE (02367.HK), POP MART (09992.HK), MNSO (09896.HK), CHERVON (02285.HK), CTIHK (06055.HK), SMOORE INTL (06969.HK), and MAN WAH HLDGS (01999.HK). AAStocks Financial News |
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