China's new county-level stimulus won't lift rural retail growth beyond its current 2.4% pace by year-end.
Nine ministries issued guidelines to upgrade rural commercial infrastructure, chain-store licensing and NEV distribution across county markets, which cover roughly 40% of national retail sales. But the measures are supply-side (store openings and subsidised loans) rather than income transfers, so underlying household spending power in rural China won't shift meaningfully near-term.
Nine ministries issued guidelines to upgrade rural commercial infrastructure, chain-store licensing and NEV distribution across county markets, which cover roughly 40% of national retail sales. But the measures are supply-side (store openings and subsidised loans) rather than income transfers, so underlying household spending power in rural China won't shift meaningfully near-term.