Wednesday, 10th November 2004 (4051 views)

China is continuing to embrace jewellery as one of its key industries, as the country's consumer base expands and demand grows for luxury items such as gold.

Reports in the latest edition of China Daily suggest that the taste for fine pieces made from gold or diamonds is steadily spreading, with locations such as Shenzhen establishing a genuine industry.

It is estimated that more than 50 per cent of the mainland fine jewellery in
China comes from Shenzhen, which has been boosted by the presence of Hong
Kong.

In 1999, Shenzhen's jewellery industry sold more than 20 billion yuan (US$2.41 billion) worth of jewellery, with the municipal government officially making the jewellery industry one of the "pillars" of the domestic economy.

The paper cites industry experts who claim that as many as 20 million jobs have been generated by the industry, which is becoming one of China's key sector growth areas.

The secretary general of the Gemological Association of China, Sun Fengmin, says that the sector is becoming one of the important contributors to the growth of domestic demand and the national economy.

 

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