28-4-2021
Retail sales of gold, silver and jewellery in China recording a 93.4 percent rise, reached US$12.36 billion from January to March, according to data released by the National Bureau of Statistics of China.
Sales began to recover in July. jewellery was among the best-performing consumer goods segment, followed by catering services and automobile sales. China earlier said effective containment of the COVID-19 virus coupled with other initiatives supported the country’s economic rebound.
The recovery in Chinese consumer spending was also pointed out by LVMH. Its Q1 sales earlier this April. Driven by consumers from China as well as the United States, Reuters forecasted the parent company of seven jewellery and watch brands is on track to exceed pre-pandemic levels’ annual revenue this year.
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