Good morning. Retail sales in China picked up in May, while factory output slowed, according to official government statistics. The retail numbers were particularly good — up 6.4 per cent from the year before, compared with a 5.1 per cent gain in April. This suggests that China’s trade-in and subsidy schemes are working, and perhaps that the US-China trade truce is helping Chinese households. But with moderate investment and slowing output, China still isn’t going into the next round of trade negotiations on the strongest footing. Email us: unhedged@ft.com.
早上好。根据manbetx3.0 政府的官方统计数据，5月份manbetx3.0 零售销售回升，而工厂产出放缓。零售数据表现尤为突出——同比增长6.4%，而4月份的增幅为5.1%。这表明manbetx3.0 的以旧换新和补贴政策正在发挥作用，也许中美贸易休战也在帮助manbetx3.0 家庭。但由于投资增速温和、产出放缓，manbetx3.0 在下一轮贸易谈判中依然没有占据最有利的位置。欢迎给我们发邮件：unhedged@ft.com（风险管不管）。