China will launch a series of campaigns in May to boost spending

China will launch a series of activities to boost domestic consumption

• Retail sales are improving, but still recovering after the coronavirus pandemic
• Campaigns will begin as China enters its five-day Labour Day holiday on May 1 (through to May 5)
• A month of events to increase consumer spending are planned

The factory sector is showing strong improvement as evidenced in the data again today:

• China Industrial Profits data for March: +92.3% y/y (prior +20.1% y/y)