China Eyes Major Pearl, JewelryTradeCenter
By THOMSON DIALOG: NewsEdge
Posted: 6/6/20066:06 AM
(Rapaport...Business Daily) A conglomerate of pearl companies from China's Hong Kong Special Administrative Region and mainland is planning to build the world's largest pearl trading center in coastal ZhejiangProvince in eastern China, a Hong Kong businessman from one of the companies told Xinhua news on June 5.
A presentation detailing the ambitious project, called China Pearls and JewelryCity (CPJC,) has drawn the attention of hundreds of jewelry merchants attending the world's largest jewelry exhibition being held in Las Vegas, the Unites States. The CPJC will be a large-scale, modernized and one-stop trading platform for pearl and jewelry manufacturers, wholesalers and suppliers from all around the world, said Rciky Cheng, chairman of Man Sang Group.
Situated in Zhuji city, the CPJC is jointly developed by Man Sang Group from Hong Kong and six major leading pearl companies from Zhejiang. Cheng said that the CPJC is due to occupy an area of approximately 1.2 million square meters and host about 5,000 shops and booths upon completion of all phases of construction. He said the center is aiming to become a gigantic, modernized, multi-functional and well-equipped trading platform for all industrial players in the pearl and jewelry industry.
"Major product lines to be traded at the center will range from raw pearls and pearl products, including freshwater pearls, SouthSea pearls and Tahitian pearls, to jewelry products made of gold, platinum, silver, diamonds, gemstones, and semi-precious stones," Cheng said.
"It will also provide a comprehensive range of services to facilitate manufacturing, processing, assembling, research and development, exhibiting, designing, wholesaling, ordinary and bonded warehousing, delivering, e-commerce, convention exhibiting and all the way down to a full range of related professional services", Cheng added.
The pearl industry, a traditional and national endeavor in China, is regarded as one of the fastest growing industries in ZhejiangProvince. Pearl cultivation farms in Zhuji occupy a total area of over 250 million square meters, with more than 3,000 pearl cultivation companies hiring about 15,000 employees, churning out more than 30 million pieces of pearl jewelry, eight million pieces of pearl handicrafts, and 65 tones of pearl powder annually.
More than 20 companies have an annual turnover of $6.3 million (50 million yuan) each, and eight companies more than $3.2 million (hundred million yuan) each. Among the pearl products, medium-to high-quality pearls, with an annual output of 300 tons, account for 73 percent of the world's output of freshwater pearls.
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