The Man Sang Group in Hong Kong has officially opened Phase one of China Pearls and Jewellery City (CP&J City) in Zhuji in Zhejiang Province - the centre for freshwater pearl trading in China.
A 55-percent owned investment and development project of the company, CP&J Cityis expected to become a multi-functional platform for pearl and jewellery trading and the largest pearl and jewellery tourist attraction in the country, stated Man Sang.
"The Group expects to leverage Zhuji's position in the world's freshwater pearl manufacturing and trading industry to build the CP&J City brand and to develop the project into a leading global pearl and jewellery trading platform, thereby strengthening China's status in the international pearl and jewellery market," said Ricky Cheng, chairman of Man Sang at the opening ceremony.
After the ceremony, CP&J City signed a strategic partnership cooperative memorandum of understanding with the Gemological Institute of America to strengthen cooperation between the two parties and to foster the development of CP&J City and China's jewellery industry.
Jointly developed by Man Sang, the Zhuji Municipal Government and six pearl companies in the mainland, Phase one of the CP&J City houses around 2,380 shops and booths in an area of 160,000 square metres. The whole project is expected to accommodate over 5,000 shops and booths to become a platform offering one-stop service including manufacturing, processing, exhibition and sales solutions to the trading of pearls, gemstones, jewellery, manufacturing equipment et al. Plans for an e-business platform and a supportive platform offering import and export services, international finance and professional insurance services and logistic services are underway, while training courses on gems and jewellery certification, pearl cultivation and jewellery design will be introduced at a later stage, the company said.