Bank Beijing China Economy Electronics HSBC Pandemic Real Estate Retail
Banking giant HSBC made a significant adjustment to its projection for China’s retail sales growth in 2026, revising it down to 2.8% from the previous 5.2% estimate. This downward revision followed disappointing April retail sales figures that highlighted the persistent strains on the labor market and real estate sector, coupled with a waning momentum in Beijing’s consumer trade-in initiative. The latest official data revealed a meager 0.2% year-on-year growth in April, marking the weakest performance since the impact of the 2022 pandemic. Retail sales serve as a critical barometer of consumer activity, yet HSBC analysts Erin Xin and Taylor Wang…
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