Unlike many Communist countries, there is no lack of things for the tourist to buy in China. A wide range of interesting objects are readily available. You may be aware that the manufacturing of a lot of American clothing is now done in China. You can get Western-style clothing, silk scarves, and things like backpacks at very reasonable prices. Gil and I both came back with down jackets purchased at the Silk Market in Beijing.
Jewelry is also very interesting.
Like everywhere, you can be cheated. Personally, I would rather pay a bit more at a reputable shop and be more assured of getting what I think I'm getting. Which for me means I would not buy pearls at the Silk Market. Silk Street in Beijing is a popular tourist stop. We found many things, from down jackets and backpacks and bags to more traditional items.