China's Ministry of Commerce reported that in May, the domestic retail penetration rate of new energy vehicles reached a record high of 62.9%. Overall, from January to May, the total retail sales of consumer goods and services in China increased by 2.8%. Retail sales of consumer goods alone grew by 1.4%, with non-automotive consumer goods seeing a 2.7% increase, and service retail sales rising by 5.4%. Data also indicated strong sales growth for smart glasses, handheld photography equipment, and smart blood glucose meters on key e-commerce platforms during the first five months of the year. AI
RANK_REASON Significant market data release from a government body. [lever_c_demoted from significant: ic=1 ai=0.1]
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