Global Times: China stimulates consumption as retail sales fell 11.1% in April

Global Times: China stimulates consumption as retail sales fell 11.1% in April
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(May 17): China's retail sales extended contraction in April due to the greater-than-expected impact of new COVID-19 flare-ups in several major urban hubs, according to official data on Monday, Global Times said.

Retail sales, a main gauge of consumption, fell 11.1 percent year-on-year to 2.95 trillion yuan ($433.9 billion) in April, data from the National Bureau of Statistics (NBS) showed on Monday, Global Times said.

Siow Chen Ming