China September Retail Sales Rise 1.1% Year-on-Year, Up from 0.4%

The acceleration from 0.4% to 1.1% is a move in the right direction, but the headline number still describes growth well below what a healthy consumption engine would show, so the improvement is better read as stabilization than revival. For crypto and RWA markets, the relevance is indirect: stronger Chinese consumption supports global risk appetite and the broader liquidity backdrop that digital assets trade against, rather than any China-specific crypto channel. The open question is whether this is a one-month bounce or the start of a durable consumer recovery.