Tuesday, 19th October 2004 (4373 views)

China's annual production of jewellery has broken the 200 billion yuan (US$24.1 billion) barrier in terms of value, in a sign of the growing maturity of the industry.

A report from the Beijing Representative Office of the League of Jewellery Dealers of Asia (LJDA) has revealed that the domestic jewellery industry is beginning to gather momentum.

The report revealed that the total number of employees in China's jewellery industry has now surpassed the 5 million mark.

The agency, which has been set up in order to cater for the flourishing industry, says that a wider range of people are now able to purchase the pieces helping to drive up sales.

Now jewellery is becoming a fashionable accessory for 'ordinary' people, with the report emphasising the need to educate consumers in order to continue this trend.

Li Jinsong, president of LJDA and chief representative of Beijing Representative Office of the LJDA, told China Daily that the key now was to capitalise on the jewellery industry's market potential.

He said that development of branding, a crackdown on counterfeit goods and the education of the consumer market would be essential for the progress of the industry.

 

« Back to the stories

 

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.