Hong Kong, China See Lift in Luxury

RAPAPORT... Sales of jewelry and other expensive items in greater China grew in April amid stronger consumer sentiment and increased tourism to Hong Kong,according to government sources. In China, retail sales of gold, silver and jewelry rose 6%year on year to $3.16 billion (CNY 20.3 billion) for the month, the NationalBureau of Statistics of China reported recently. Meanwhile, Hong Kong recorded a 25% jump in sales ofjewelry, watches, clocks and other valuable gifts to $843.7 million (HKD 6.62billion), according to data the Census and Statistics Department released Thursday. "Retail sales sustained double-digit growth over a yearearlier in April, underpinned by strong local consumer spending as well asbuoyant inbound tourism," a Hong Kong government spokesperson said. "Looking ahead, favorable job-and-income prospects andsustained growth in inbound tourism should continue to support retail sales inthe near term," the spokesperson added. Total retail sales in all sectors for China increased 9%year on year to $444.55 billion (CNY 2.85 trillion) in April. In Hong Kong,combined sales grew 12% to $5.04 billion (HKD 39.54 billion) for the month. In April, the total number of tourists arriving in Hong Kongrose 11% year on year to 5.3 million, according to the Hong Kong Tourism Board.Of those visitors, 4.1 million came from mainland China.