The chairman of Li & Fung has said Christmas sales may match last year's, according to reports, with retailers likely to see same-store growth.

"Perhaps the recovery rate is a little slower than what one had hoped for," Victor Fung told Bloomberg. "The key thing is that it's recovering," he added.

He expects volumes in money terms to be "quite steady" going into Christmas. According to the report, he said retailers on average will see same-store or comparable sales growth. Fung said retailers are accepting price increases and passing on some of the rises, albeit "very carefully".

Last week, Fung launched a think-tank to provide Asian perspectives on global issues.