Core Viewpoint - Chinese e-commerce giants Alibaba and PDD Holdings experienced a rise in their shares following a stronger-than-expected increase in China's retail sales, indicating renewed consumer momentum in the economy [1][3]. Group 1: Retail Sales Performance - China's National Bureau of Statistics reported a 6.4% year-on-year increase in retail sales of consumer goods for May, reaching 4.13 trillion yuan (approximately $575.3 billion) [1][2]. - This growth marked an acceleration from April's 5.1% and surpassed analysts' expectations of 5% [2]. Group 2: Factors Contributing to Growth - The robust retail sales figures were partly driven by government subsidies and trade-in policies for household and communication appliances, along with boosts from the Labor Day and Dragon Boat Festival holidays [2][4]. - The upcoming mid-year shopping festival, starting June 1 and peaking on June 18, is expected to further enhance sales in June [4]. Group 3: Implications for E-commerce Companies - The positive retail sales data provided a favorable environment for leading online retailers like Alibaba and PDD Holdings, improving investor sentiment towards these companies [3]. - The rebound in retail sales suggests that Chinese consumers are demonstrating resilience despite ongoing economic challenges and U.S. tariffs [3][4].