Asia Pacific Equity Research 15 July 2026 China Ecommerce Jun-26 online sales: Headline retail growth turns positive; online physical goods extend recovery Head of China Equity Research and Co-Head of Asia TMT Research Alex Yao AC (86 21) 6106 6505 alex.yao@jpmorgan.com SAC Registration Number: S1730523020001 Nancy Liu (86 21) 6106 6343 nancy.liu@jpmorgan.com SAC Registration Number: S1730524090001 J.P. Morgan Securities (China) Company Limited Source: National Bureau of Statistics of China (Article title: ...