HK Retail Sales Jump 31 Percent In February

Hong Kong’s retail sales saw a 31 percent year-on-year jump in February, as the number of visitors to the city rebounded sharply.

Total sales hit HK$33.1 billion, figures released on Friday showed.

There had been a 6.9 percent rise in January and for the first two months of the year together, sales rose 17. 3 percent, the Census and Statistics Department said.

Sales of jewellery, watches and valuable gifts led the way, soaring nearly 63 percent in the past two months.

Chinese medicine and optical shops also did brisk business, with their sales jumping around 50 percent. But sales of supermarket goods dropped by more than 13 percent.

"The value of total retail sales surged in February over a year earlier alongside the continued improvement in consumer sentiment and the sharp rebound in visitor arrivals. The low base of comparison last year also contributed," a government spokesman said in a statement.

Looking ahead, the spokesman said the retail sector's performance will continue to benefit from the recovery of private consumption and inbound tourism.