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Chinese Online Retail Sales Accelerate

Chinese online retail sales grew at their fastest since 2016 in June. The pace of growth accelerated to 41% year-on-year from 30% year-on-year in May, according to the latest China retail data released by the National Bureau of Statistics (NBS).

Nomura analyst Jialong Shi has more details:

China e-commerce growth maintained a positive trajectory in June, as China’s online retail sales (excluding the sales of virtual goods and services) were CNY495bn, up 41% y-y vs 30% y-y growth noted in May. In fact, the 41% growth was the highest y-y growth rate we have noted since 2016.
The NBS did not give any...

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