TOKYO/SHANGHAI — China’s retail sales expanded at the slowest rate in seven months in July, as effects of shopping subsidies waned and a government austerity campaign discouraged officials from spending lavishly.
Fixed asset investment also decelerates; government rolls out new subsidies
People carry shopping bags in in Beijing. Chinese authorities are looking to avert a consumption cooldown due to the fading impact of subsidies on items like appliances, cars and furniture. © Reuters
GRACE LI and WATARU SUZUKI
August 15, 2025 11:44 JST
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