The article points out that from April to June this year, Chinas retail sales recovered strongly, while the US retail sales fell by 8.1% year-on-year. With Chinas effective control of the new epidemic, many analysts expect Chinas retail sales to return to annual growth in the third quarter, while the United States and other western countries still need to work hard to control the epidemic to fully open up the economy.
The article also mentioned that many well-known luxury companies in other regions have also benefited from Chinas consumer market. The head of investor relations at mth Hennessy Louis Vuitton group said the Chinese market had well offset the companys losses elsewhere. According to the quarterly financial report released by Guccis owner Kaiyun group, the sales of its luxury brand in the second quarter fell 43% year-on-year, but increased by more than 40% in China.
Some clothing and footwear brands are also eye-catching in the Chinese market. The head of Lulu lemon sporting goods Co. said the companys sales in China had increased by more than 20% year on year in recent weeks. Nike said it achieved strong double-digit growth in the Chinese market in May.
This is the January 14th Shanghai new world Tesla experience center. (Xinhua news agency, photo by Wang Xiang)
Many American companies have benefited from Chinas economic recovery, the article said. Teslas U.S. plant has been closed for a long time, but it still made a profit of $104 million in the second quarter. A good performance in China is the key. Apple reported a 2% increase in revenue in China in the second quarter.