Association promotes 18K gold
(eastday.com)
Updated: 2004-05-16 10:25

The World Gold Council will promote K-gold jewelry -- 75 percent pure gold or 18K -- in China after a warm response to the jewelry which debuted in Shanghai last September, said council officials on May 14 in town.

The 18K gold jewelry trade accounts for up to 5 percent of the country's total gold consumption and officials expected the figure to grow to up to 15 percent in three to five years.

"K-gold was introduced to Beijing earlier this week and will be brought to other major cities such as Chengdu, Dalian, Wuhan or Guangzhou earlier next year," said Albert L. H. Cheng, managing director of World Gold Council Far East.

The London-based global advocate for gold launched K-gold jewelry first in Shanghai with three partners, Hong Kong-based Chow Sang Sang Jewelry Co Ltd, Chow Tai Fook Jewelry Co Ltd and Shanghai-based DH Splendia Jewelry. It has added five additional partners.

Though many Chinese covet 24K gold products as a hedge against inflation, young generations are interested in fashion jewelry, said Cheng.

"I thought gold jewelry a bit vulgar, but I decided gold jewelry fashionable and eye-catching after I saw K-gold jewelry on TV," said Zhao Yun, a 23-year-old local resident.

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