China's Retail Sales Grow 4% in 2M25, Driven by Spring Festival Spending

China's Retail Sales Grow 4% in 2M25, Driven by Spring Festival Spending

China's retail sales rose 4.0% YoY in the 2M25 (vs 3.7% in Dec-24), marking the strongest growth since Oct-24. This was driven by higher consumption during the Spring Festival. Key sectors seeing growth included grain, oil, and food (11.5%), cosmetics (4.4%), and sports equipment (25.0%). However, sales of beverages (-2.6%) and automobiles (-4.4%) declined. China combines 2M25 data to adjust for the shifting dates of Lunar New Year. In comparison, retail turnover grew by 3.5% in 2024.

INDUSTRY

Indonesia's Palm Oil Exports Jump 62.2% in Feb-25
Indonesia's palm oil exports reached 2.06 mn tons in Feb-25 (+62.2% MoM), driven by lower export taxes, making it more competitive than Malaysia. The tax cut from $178 to $124/ton boosted demand, while Malaysia's exports fell 16.27% to a four-year low. Despite curbs on used cooking oil, rising exports and a 40% biodiesel mandate are keeping stocks stable and prices firm.
 

COMPANY

Indomobil (IMAS) to Introduce New Chinese EV Brand
IMAS, through its subsidiary PT Indomobil National Distributor, plans to bring a new Chinese EV brand to Indonesia, with Leapmotor speculated to be the candidate. The Co targets launching at least three new brands under the Stellantis ecosystem in 2025, adding to Citroen and Jeep. Indomobil will implement the Stellantis Brand House showroom concept and is considering launching the new brand at GIIAS 2025.