China’s jewellery retail business maintained its positive momentum from January to May, recording an 8.2 percent year-on-year growth, the National Bureau of Statistics of China revealed.
Government data showed that retail sales of gold, silver and jewellery climbed to RMB 128 billion (US$18.79 billion) for the first five months of the year while in May alone, sales reached RMB 25.1 billion (US$3.68 billion), up 9.6 percent from the previous year.
The latest figures represent a steady recovery in China’s jewellery consumption sector for the fifth consecutive month.
Hong Kong and Macau likewise reported positive developments in their jewellery retail markets.
According to their respective statistic and census departments, Hong Kong’s jewellery market registered a 0.5 percent growth in April. Macau, meanwhile, saw its retail sales of watches, clocks and jewellery surge 23.2 percent during the first quarter of 2017.