Retail sales of gold, silver and jewelry in China reached $ 4.57 billion in December last year, rising 7.3% from the level of 2013.
However, according to the National Bureau of Statistics of China, the production growth in the jewelry sector was practically not registered and remained at $ 47.8 billion in the period from January to December 2014, compared to $ 47.5 billion for the same period in 2013.
In 2013, the growth rate of retail sales of gold, silver and jewelry amounted to 25.8%.
In its report on trends in demand for gold, issued in November 2014, the World Gold Council (WGC) said that the Chinese jewelry market has returned to normal after a sharp increase in 2013.
The WGC added that demand for jewelry is gradually rising in the run-up to the Chinese New Year.