Chinese consumer companies indicate that spending

BEIJING-The latest reports of Chinese company’s profits indicate an improvement in spending on consumers, although they are not necessarily due to prenatal levels.

E -commerce giants Ali Baba and JD.com Both of them said in the past few weeks that the retail business in China has witnessed faster income growth on an annual basis in the past three months of 2024 for 2023.

“We believe that the growth of consumption is in a period of health recovery, but not (until reaching) in the past,” said Charlie Chen, Managing Director and Chief of Asia Research in China, on Wednesday in Mandarin, translated by CNBC.

Chen said that in order for consumer spending to grow before birth, it is possible that the growth of Chinese companies ’revenues will need to recover from double numbers and consumer confidence needs to be improved. He pointed out that the conversation Real estate He weighs on consumers’ feeling of richness.

Chinese policy makers emphasized this Promoting consumption They are their priority this year. To date, the authorities have The commercial support program expanded To include smartphones, as well as home appliances and electric cars. In September, Beijing also referred to a shift in real estate policy by calling for a The market decrease.

JD.com has benefited directly from the trade program, and reported 15.8 % on a year sales on electronics and home appliances in the fourth quarter of 2024. However, the entire year of the entire year of the year was 4.9 % was only the fastest growth since 2021, when sales increased by approximately 23 %.

Sandy Show, CEO and CEO of JD.com, said in a profit call this month:

She said: “In the short term, we believe that there are still challenges on the total side, but in the long run, we are still very optimistic about consumer morale,” she said.

TinetnetWhich runs mobile phone payments and the WeChat social media application 3 % growth in Fintech and Businesses services To 56.1 billion yuan ($ 7.7 billion) in the fourth quarter of 2024, noting that “commercial payment services revenues were widely stable on an annual basis.” This compares with 39 % sector growth in The fourth quarter of 2019, which attributed Tenning to “revenue contributions greater than commercial payment”.

Some companies have found specialized areas where Chinese consumers spend.

In late February, its headquarters is Beijing Lubo GoldWhich makes and sells golden jewelry with Chinese designs, it is expected that the net profit last year increased by at least 236 % in 2024 to 1.4 billion yuan. The company is scheduled to issue full results for 2024 on Tuesday.

Game company Pop Mart It was also paid forward, and he was informed on Wednesday that the revenues on the mainland of China More than weakness last year To 2.64 billion yuan.

New techniques I mentioned that the electronic periods Sales in China increased by more than 80 % on an annual basis in the fourth quarter From 2024 to 646.2 million yuan. The entire public sector sales increased by 27.5 %. The company attributed the growth to its focus on the distinguished models and the expansion of the store.

In contrast, Niu said A relatively slow recovery in economic growth in China in 2023 It resulted in a decrease in sales that year.

China official economic data At the beginning of the year, he showed a modest improvement in growth.

Chen said 4 % year -long retail growth on January and February was the highest increase in the past 12 months on a seasonal basis. Since this height was 5.5 % in the first two months of 2024, it is expected that this year’s retail sales growth will be above 4 %.

Retail sales increased by 3.5 % in 2024. From 2015 to 2019, retail sales grew by 9.7 % on average each year.

Chen said it is expected to support government policy more Services Spending since the possibility of recovery is greater than daily necessities.

Chinese travel reservation site Trip.com He said in late February The net revenue for 2024 increased by 20 % To 53.3 billion yuan. That was faster than a 15 % increase in 2019 to 35.7 billion yuan In net revenue.

While the company was not separated from its views on the local market, it confirmed that international travel had recovered to more than 120 % of the 2019 levels. Jane Sun’s CEO also highlighted a profit call that the “silver generation”, or travelers over 50 years old, highlighted a target demographic, as the market sector is likely to exceed 1 trillion yuan in the coming years.

China The second largest market for consumers in the worldIt is still intense competitive, especially since the demand for consumers was soft. Electric car companies have reduced prices, while retailers have struggled to compete with heavy discounts online.

Retailing chain of house accessories Meriso I mentioned that China’s revenues on the mainland have grown before 10.9 % last year To 1.28 billion yuan, although the growth was ran away in a quarter of December by 6.5 %. The company does not plan to accelerate the pace of stores, and said online sales in China are increasingly growing.

China’s main drink chains of milk tea to coffee also witnessed sales of less stores in the last part of 2024.

The total slowdown in industry and competitors who launched low -price products contributed to a 0.7 % decrease in the same store sales in the first nine months of 2024, bubble tea series Gum He said about that Hong Kong First Public Offers Bulletin February 4.

In the fourth quarter of 2024, the average monthly sales of each milk chef tea store in China decreased by 20.6 % from last year, after modest growth in the previous quarter, according to CNBC accounts for numbers that were revealed this week in A. US General subscription bulletin. Sales abroad increased by 29.2 % on an annual basis in the fourth quarter.

The Chinese tea series mixture said that the average store sales decreased to 1.08 million yuan in the first three months of 2024, a decrease from 1.13 million yuan in the previous year, according to the latest available numbers.

Even Chinese coffee series Lukin opinion 3.4 % decrease in the store’s sales itself As for the self -run stores in the quarter ending on December 31 of the previous period. Starbucks A sign a 6 % decrease in similar store sales During that time.

– Ying SHAN Lee from CNBC contributed to this report.