Retail sales rise 13 percent
Hong Kong's retail sales rose by 13 percent year-on-year in September to HK$31.8 billion marking the tenth consecutive month of growth, the Census and Statistics Department said on Wednesday.  Sales in the year to September surged by 18.6 percent year-on-year.  Jewellery, watches and valuable gifts led the gain, with sales rising 27.3 percent. The government attributed the growth to the recovery of inbound tourism and private consumption. Bond Law, Executive Director of the Hong Kong Retail Management Association, described September's figures as "fair". "The performance was quite steady, without explosive growth or a drop. The companies recording growth were mainly tourist-related, while the ones recording a drop mainly focus on the local market. Even [with] the 'Golden Week' effect, the sale was just fair, particularly for the companies focusing on the local market," said Law. He added that retailers targeting local residents will continue to record weak sales, with these people spending more outside Hong Kong. A government spokesperson, meanwhile, said a further recovery in the number of visitors to Hong Kong will benefit the retail sector. "Continued improvement in household income and the government's various support initiatives, including the 'Night Vibes Hong Kong' Campaign, should also provide support," the spokesperson said.