The China Retail Performance Index, which is the China General Chamber of Commerce’s other market confidence indicator, was at 50.2 per cent for August 2022 — staying flat in the month of July.

China’s retail sector remains steady in its path to recovery as its operations rose 0.8 percentage points over June 2022 to touch 49.8 per cent in July 2022, according to a report released by the China General Chamber of Commerce. The industrial survey’s results imply the Chinese market’s confidence regarding business stability in the future.

Expectations for consumption recovery continue to be stable as a result of COVID-19 prevention and control policies and pro-consumption measures, said the commerce chamber as per Chinese media reports.

Fibre2Fashion News Desk (NB)