Sales of jewellery and other luxury goods grew in both Hong Kong and China last year amid improved consumer sentiment.
In Hong Kong, full-year sales of jewellery, watches, clocks and valuable gifts rose 5%, reaching $9.6 billion (HKD 75.05 billion), the municipality’s Census and Statistics Department reported last week.
In mainland China, meanwhile, gold, silver and jewellery sales grew 6% to $47.12 billion (CNY 297 billion) during the same period, according to the National Bureau of Statistics.
The increases injewellery sales in both Hong Kong and China mirrored a positive trend in the general retail sector, which continued in December, the respective reports showed.
Solid retail growth in Hong Kong during December reflects rising consumer sentiment, a government spokesperson said. Favorable employment and income conditions, as well as the return of inbound tourism, contributed to this improvement.
“The near-term outlook for the retail trade stays positive,” the spokesperson added.
The region is currently in its busiest retail season ahead of the Chinese New Year on February 16.