China Almost Doubles Jewellery Sales in January-February 2021
Data from the National Statistics Bureau of China, quoted by IDEX Online, shows a 99% increase in jewellery sales in China during the first two months of 2021.
Total retail sales increased 33.8% in January-February 2021 compared to the same months in 2020. The rise is attributed to “effective containment of the Covid-19 virus” as well as “a steady recovery in investment and consumption, stable employment and prices that safeguarded people’s basic livelihoods with the sustained steady recovery of the national economy”.
In 2020, jewellery sales in China went down 4.7%. These began to recover in July. In December, sales of gold, silver and jewellery rose 11.6%. According to the World Bank, China’s economy is expected to grow 7.9% in 2021.