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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