China's Retail Sales Slow, Fixed-Asset Investment Drops, and Urban Unemployment Rises

China reported a slowdown in retail sales to 0.4% year-on-year, falling short of the 0.8% expectation. Fixed-asset investment saw a year-to-date drop of 7.2%, and urban unemployment unexpectedly increased to 5.3%. The People's Bank of China (PBOC) set a stronger yuan fixing for the fifth consecutive day, aiming to cap volatility ahead of an upcoming summit.