China's online retail sales in August slows down

China's online retail sales in August 2024 slows down to 5.1% growth.

YTD August 2024: RMB 9,635.2b +8.9% YoY

YTD August 2023: RMB 8,847.7b

August 2024: RMB 1,256.8b +5.1% YoY

August 2023: RMB 1,196.2b

August marked a steady slowdown in growth for China's online economy, which is still growing faster than the overall retail industry.

Stripping out online retail sales, traditional retail grew by just 0.7% to RMB 2,615b in August 2024. That is NOT encouraging.

$Alibaba(BABA)$ $BABA-W(09988)$ $JD.com(JD)$ $JD-SW(09618)$ $PDD Holdings Inc(PDD)$ $Bilibili Inc.(BILI)$ $BILIBILI-W(09626)$ $MEITUAN(MPNGY)$ $MEITUAN-W(03690)$ $KraneShares CSI China Internet ETF(KWEB)$ $TENCENT(00700)$ $Tencent Holding Ltd.(TCEHY)$

https://x.com/BrianTycangco/status/1835496286998642983

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That is NOT encouraging. <a data-mention-id=\"BABA\" class=\"teditor-mention\" data-mention-name=\"Alibaba\" href=\"https://ttm.financial/S/BABA\">$Alibaba(BABA)$</a> <a data-mention-id=\"09988\" class=\"teditor-mention\" data-mention-name=\"BABA-W\" href=\"https://ttm.financial/S/09988\">$BABA-W(09988)$</a> <a data-mention-id=\"JD\" class=\"teditor-mention\" data-mention-name=\"JD.com\" href=\"https://ttm.financial/S/JD\">$JD.com(JD)$</a> <a data-mention-id=\"09618\" class=\"teditor-mention\" data-mention-name=\"JD-SW\" href=\"https://ttm.financial/S/09618\">$JD-SW(09618)$</a> <a data-mention-id=\"PDD\" class=\"teditor-mention\" data-mention-name=\"PDD Holdings Inc\" href=\"https://ttm.financial/S/PDD\">$PDD Holdings Inc(PDD)$</a> <a data-mention-id=\"BILI\" class=\"teditor-mention\" data-mention-name=\"Bilibili Inc.\" href=\"https://ttm.financial/S/BILI\">$Bilibili Inc.(BILI)$</a> <a data-mention-id=\"09626\" class=\"teditor-mention\" data-mention-name=\"BILIBILI-W\" href=\"https://ttm.financial/S/09626\">$BILIBILI-W(09626)$</a> <a data-mention-id=\"MPNGY\" class=\"teditor-mention\" data-mention-name=\"MEITUAN\" href=\"https://ttm.financial/S/MPNGY\">$MEITUAN(MPNGY)$</a> <a data-mention-id=\"03690\" class=\"teditor-mention\" data-mention-name=\"MEITUAN-W\" href=\"https://ttm.financial/S/03690\">$MEITUAN-W(03690)$</a> <a data-mention-id=\"KWEB\" class=\"teditor-mention\" data-mention-name=\"KraneShares CSI China Internet ETF\" href=\"https://ttm.financial/S/KWEB\">$KraneShares CSI China Internet ETF(KWEB)$</a> <a data-mention-id=\"00700\" class=\"teditor-mention\" data-mention-name=\"TENCENT\" href=\"https://ttm.financial/S/00700\">$TENCENT(00700)$</a> <a data-mention-id=\"TCEHY\" class=\"teditor-mention\" data-mention-name=\"Tencent Holding Ltd.\" href=\"https://ttm.financial/S/TCEHY\">$Tencent Holding Ltd.(TCEHY)$</a> https://x.com/BrianTycangco/status/1835496286998642983</body></html>","htmlText":"<html><head></head><body>China's online retail sales in August 2024 slows down to 5.1% growth.YTD August 2024: RMB 9,635.2b +8.9% YoYYTD August 2023: RMB 8,847.7bAugust 2024: RMB 1,256.8b +5.1% YoYAugust 2023: RMB 1,196.2bAugust marked a steady slowdown in growth for China's online economy, which is still growing faster than the overall retail industry.Stripping out online retail sales, traditional retail grew by just 0.7% to RMB 2,615b in August 2024. 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