Economic Data - In May, the total retail sales of consumer goods reached 41,326 billion yuan, a year-on-year increase of 6.4% [1] - Excluding automobiles, retail sales amounted to 37,316 billion yuan, growing by 7.0% [1] - From January to May, total retail sales were 203,171 billion yuan, up 5.0% [1] Urban and Rural Consumption - In May, urban retail sales were 36,057 billion yuan, with a year-on-year growth of 6.5%, while rural retail sales were 5,269 billion yuan, growing by 5.4% [3] - For the first five months, urban retail sales totaled 176,490 billion yuan, increasing by 5.1%, and rural retail sales reached 26,681 billion yuan, up 4.9% [3] Retail Categories - In May, the retail sales of goods were 36,748 billion yuan, a year-on-year increase of 6.5%, while catering revenue was 4,578 billion yuan, growing by 5.9% [3] - From January to May, goods retail sales were 180,398 billion yuan, up 5.1%, and catering revenue was 22,773 billion yuan, increasing by 5.0% [3] Online Retail - From January to May, the online retail sales reached 60,402 billion yuan, a year-on-year increase of 8.5% [5] - Among online retail, physical goods sales were 49,878 billion yuan, growing by 6.3%, accounting for 24.5% of total retail sales [5] Retail Formats - For the first five months, retail sales in convenience stores, specialty stores, supermarkets, brand specialty stores, and department stores grew by 8.5%, 6.3%, 5.7%, 1.8%, and 1.3% respectively [5] New Policies and Initiatives - Hangzhou's new policy for "immediate purchase and refund" offers up to 5,000 yuan in equipment subsidies for new points of sale [8] - Dalian and Hubei will implement tax refund policies for overseas travelers starting July 1, 2025 [8] New Store Openings - Louis Vuitton plans to open its largest store in Asia at K11 Musea in Hong Kong by the end of 2026 [9] - The first shopping center store of Florasis will open in Shanghai on June 22 [11] - OSPREY opened its first brand specialty store in Hangzhou [17] - IKEA will open its third store in Shenzhen on June 19 [24] Company Developments - Wanda Film and IMAX have deepened their cooperation to upgrade 27 cinemas by 2029 [25] - Ba Nu International has submitted an IPO application to the Hong Kong Stock Exchange [28] - Zhou Li Fu Jewelry has started its IPO process, planning to list on June 26 [29] - Three squirrels terminated the acquisition of Hunan Ai Ling Shi Technology due to disagreements on core terms [30]