Chinese consumers are splurging—but probably not for long
There is a reason retail sales have boomed
IN THE West the shopping calendar is organised around the birthday of Jesus Christ. In China it is shaped by the birthday of JD.com. That giant e-commerce firm, established on June 18th 1998, introduced the “618” shopping festival in honour of its founding. The festival offers discounts and other enticements to shoppers in the run-up to the big day. But just as Christmas decorations seem to appear earlier each year, the 618 festival keeps starting sooner. This year’s promotion began on May 13th, a week earlier than in 2024.
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This article appeared in the China section of the print edition under the headline “Running out of clunkers”
From the June 21st 2025 edition
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