Market Share of Sri Lankan Gemstones up in China

The National Gem and Jewellery Authority (NGJA) and the Sri Lankan Embassy in China have gone a long way to ensure that Sri Lankan gemstones secure a brand name in China.

Last year with the assistance of the NGJA and Sri Lanka Gem and Jewellery Association, the Sri Lankan Embassy facilitated the participation in 10 gem and jewellery fairs across China. Sri Lankan gemstones and jewellery were showcased in over 80 exhibition stalls.

This year the Sri Lanka Embassy  with the assistance of the NGJA participated in the China International Gold  Jewellery and Gem Fair Shenzhen  2010, which was held from the 9th to the 12th of March 2010. Seventeen Sri Lankan exhibitors participated at this years Shenzhen jewellery show.

According to the Daily Mirror Sri Lanka, China is the 2nd largest luxury market in the world and is soon expected to become the no 1. luxury market. Therefore the aggressive promotion of  Sri Lankan gemstones would be of benefit in the long run.

The Shenzhen jewellery industry was established in the late 1980’s during the time of President Den Xiao Pen. Special economic zones and open economic policies facilitated the establishment. Presently Shenzhen is the biggest gold  and platinum jewelry manufacturing, processing and trading center in China.

70% of the jewellery manufactured in China is processed in Shenzhen (Processing value US$ 6.5 billion). Shenzhen is home to over 110,000 skilled workers and over 2000 jewellery enterprises. Other factors that contributed to the success of Shenzhen include a vast pool of low cost labour and skilled workers from Hong Kong.

According to the Daily Mirror, during the Shenzhen Fair the officials had fruitful discussions with Shenzhen Dawngshan China Ornament and the International Jewellery Exchange Co. Ltd of Dawangshan Plaza, Shenzhen.As a result of the discussion an agreement was signed to secure 2000sq.m of shop spaceat special concessional rate at the International Jewellery one stop sourcing center that will soon be open at Shenzhen

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