Chart : Monthly yearonyear growth rate of total retail sales
Source: Wind, CICC Research Department
Source: Wind, CICC Research Department
The Central Economic Work Conference set the tone that in , efforts will be made to expand the implementation of the "two new" policies. On January , the National Development and Reform Commission gave a more ivory coast phone number list detailed introduction on how to increase efforts and expand the scope at a press conference held by the State Council Information Office. This includes significantly increasing the scale of ultralongterm special government bond funds, implementing subsidies for the purchase of new digital products such as mobile phones, and increasing support for replacing household consumer goods. Regarding the impact and prospects of the expansion of the "two new" policies, we discussed it in our January report "The direction of "expansion" is clear, and we look forward to "increasing" the scale Comments on the oldfornew policy." We estimate that may exceed and become the year with the highest intensity of consumer goods subsidies, which will provide a significant boost to total retail sales.
risk
There are uncertainties in macroeconomic policies; there may be errors in data estimates.
[] Due to adjustments in the scope of retail sales above the designated size, in order to ensure that the growth rates are comparable, we will use the retail sales in a designated base period and the growth rates in other years to estimate the scale of other years under the same scope. The base period used for calculation in different periods is different. The retail sales from to are calculated based on the values as the base period, the retail sales from to are calculated based on the values as the base period, and the retail sales in are calculated based on the values as the base period.