Image credit: Hans (Pixabay)
The government statement said consumer demand has been steadily improving, driven further by the National Day Holiday and the Mid-Autumn Festival, which ran from October 1 to 8.
From January to October, the figure was down 9.8 per cent year on year, with retail sales severely hit by COVID-19-induced lockdowns and business restrictions. China, however, was among the first countries to show signs of economic recovery.
Total retail sales in October went up by 4.3 per cent, government data showed. The Chinese government has attributed the country’s sustained growth in jewellery sales in October on the back of increased demand during highly anticipated holiday celebrations.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
