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Jewelry production value exceeds US$24.10b
(People's Daily Online)
Updated: 2004-10-19 15:02
The jewelry industry was rather highly priced for most ordinary people in
China some 20 years ago. However, China's annual production value of jewelry
exceeded 200 billion yuan (US$24.10 billion) in 2003, said a report from the
founding ceremony of Beijing Representative Office of the LJDA (League of
Jewelry Dealers of Asia), China's first agency specialized in jewelry culture,
on October 16.
With the rapid advancement of the national economy, the jewelry industry
developed by leaps and bounds. It is reported that the jewelry has been within
the reach of the ordinary people and become the daily necessity for fashion and
individuality. China is the world big gold consumer and the dominant producer of
jade carvings with various jade products developed dramatically. Currently, the
total employees in China's jewelry industry have exceeded 5 million.
According to Li Jinsong, president of LJDA and chief representative of
Beijing Representative Office of the LJDA, the jewelry industry's market
potential and people's understanding about jewelry are widely apart. Thanks to
the fast development of the jewelry industry, people's lack of knowledge of the
jewelry quality has become more and more evident. Apart from that, along with
consumers' large demand of jewelry and the latest fashion coming out one after
another, piracies and imitations emerge quickly and endlessly, which seriously
dampened the initiative of the original design. This is one reason for the
insufficient brands within the jewelry industry as against
others.
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