Jewellery sales in Hong Kong further strengthened in July, thanks to improving market conditions and consumer spending, latest government data showed. 

According to the city’s Census and Statistics Department, retail sales of jewellery, watches and clocks, and other valuable gifts rose 28.3 per cent to HK$4.07 billion (around US$518 million) in July from the same period a year ago.

From January to July, sales in this category dipped 1.8 per cent to HK$21.53 billion (around US$2.74 billion). Overall retail sales in July were up 4.1 per cent while January to July figures showed a 1.7 per cent decline. 

The government said retail sales resumed a moderate year-on-year rise in July on the back of improving labour market conditions, which supported consumer spending. A lower base of comparison also contributed to the year-on-year increase. 

“The Phase II Consumption Voucher Scheme should render support to consumption demand in the coming months,” a government spokesman said. “Yet tighter financial conditions and development of the local epidemic will also have bearings on the performance of the retail sector.” Hong Kong has been implementing a government-backed consumption initiative that involves giving residents electronic vouchers to help spur consumer spending.