Numbers released by the National Bureau of Statistics of China, and quoted by Rough & Polished, show that demand for jewelry in China has grown throughout the year (January to November 2017) with retail sales reaching $41 billion – a 6.2% rise year-on-year.
According to the piece, these numbers represent “a continued progress in China’s jewelry retail sector, which has been recording steady growth for consecutive months”. In November, jewelry sales went up 4.4% year-on-year, totaling $3.85 billion. Jewelry sales during the first half of the year were up 7.9% to around $22.59 billion.
Data from the China Gold Association released in November showed that gold consumption in China increased 15.5% in the first three quarters of 2017. The rise, according to the report, comes “on the back of stronger appetite for high-end gold products” as well as “uncertainties in the property and securities markets”.
