The latest report from China’s National Bureau of Statistics reveals that the country’s retail sales of gold, silver and jewellery grew at a slower pace in July compared to previous months of strong recovery.
The jewellery sales in July recorded a growth of 14.3 per cent and 52.8 per cent from January to July. By comparison, sales in June increased by 26 per cent while first-half figures were up 60 per cent as per the Government data. The overall retail sales recorded a sluggish 8.5 per cent in July year on year compared to the 12.1 per cent growth in June.
According to the international consulting firm Deloitte, this was the slowest growth in retail sales since December 2020. Retail sales fell on a month-to-month basis. The government acknowledged that restrictions imposed to fight the spread of the virus had undermined consumer mobility and spending.
The company added that COVID-19 will be the most important factor driving China’s recovery going forward.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
Exclusive
Ellah Muchemwa: ADPA to launch Africa's first diamond mining standard next year
The African Diamond Producers Association (ADPA), which is based in Luanda, Angola, and represents the interests of mainly African diamond producers and those with the potential to produce diamonds, will next year launch the Sustainable Development...
04 november 2024
Dmitry Fedorov: I want our jewelry to be displayed at a museum in the future
Dmitry Fedorov is the founder of the eponymous jewelry house. His main focus is the creation of Orthodox-inspired premium luxury jewelry of high artistic merit. He told Rough&Polished about his journey in the jewelry industry, about choosing the ‘Orthodox...
28 october 2024
Responsible business practices ‘no longer optional’, says WDC President Feriel Zerouki
The president of the World Diamond Council takes time out of her busy schedule to tell Rough&Polished readers about the critical work of the WDC. Zerouki, the first female present of the body, which includes all the important industry organizations among...
14 october 2024
James Campbell: Botswana Diamonds optimistic as it enters uncharted territory of using AI for mineral exploration
London-listed Botswana Diamonds has expressed optimism about the company’s use of artificial intelligence (AI) to scan the exploration database in Botswana to look for new mineralised deposits. Company managing director James Campbell told Rough...
07 october 2024
Artur Salyakayev: For me, happiness is freedom to make my ideas happen and create valuable products
Artur Salyakayev is an art entrepreneur, founder of the International Jewelry Academy (IJA) and the INCRUA jewelry company. He has initiated and developed successful projects in jewelry industry and services sector. He is also a leading expert...
30 september 2024
