Tuesday, 11th October 2005 (3891 views)

Last week's Golden Week saw bumper sales of gold jewellery in China.

During the week of national holidays, often dubbed 'Golden Week', sales of gold and jewellery were 35 per cent higher than last year.

Overall retail sales were up 14.2 per cent on last year's figures, reaching a total of 270 billion yuan.

The weeklong National Day holiday is one of three such periods, the others being the May Day and Spring Festival celebrations.

These were created in 1999 in order to increase sales and boost the national economy. In recent times they have seen an increase in the number of people taking flights in addition to improved retail sales.

China annually produces over 200 tonnes of gold, with most domestic consumers favouring pure 24-carat gold.

 

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