Jewellery sales in China improved in Q1 recording a 93.4 per cent increase from the same period last year. Retail sales of gold, silver and jewellery reached around $12.36 bn from January to March. This rise is attributed to the sustained strength in China’s retail sector. In March alone, sales hit around $4 bn up 83.2 per cent from a year ago, as per media reports.
The National Bureau of Statistics of China, jewellery was among the best-performing consumer goods segment, followed by catering services and automobile sales.
Throughout the first half of 2020, jewellery retailers in China suffered heavy losses, but sales began to recover in July as the country’s COVID-19 situation gradually improved.
Also, China noted that ‘Investment and consumption recovered steadily, employment and prices were generally stable, people’s basic livelihoods were safeguarded, and the national economy sustained steady recovery.’
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
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