Retail sales in the key jewellery markets of China and Hong Kong registered strong growth from January to November last year compared to the same period in 2017, according to latest government data.
China’s sales of gold, silver and jewellery were up 8.1 percent while sales of jewellery, watches and clocks, and valuable gifts in Hong Kong rose 16.1 percent during the period in review.
In November alone, China registered a 5.6 percent year-on-year growth in jewellery retail sales while Hong Kong reported a 3.9 decline in November jewellery sales. Hong Kong’s October sales increased by 3.2 percent.
According to the Hong Kong government, overall retail sales decelerated to a modest growth in November after gaining traction in October. A moderate growth in retail sales in recent months also reflected “more cautious consumption sentiment in the face of various external uncertainties such as the US-China trade war and volatilities in the global financial markets,” the government said.