China's consumer stocks are set to create the longest annual underperformance record in history

The CSI 300 major consumption index is expected to underperform the benchmark CSI 300 index for the third consecutive year. The CSI 300 major consumption index has fallen by 6.6% so far this year, while the CSI 300 index has risen by 16% during the same period. UBS and Everbright Securities International pointed out that China's retail sales have recorded the worst performance outside of the pandemic period, and the continuous decline in housing prices may continue to suppress domestic demand. This year's two important policy meetings have prioritized boosting domestic demand as a key task