BEIJING, Jun 4 (APP): The 2024 Beijing International Gold, Jewelry, and Gemstone Exhibition concluded on June 3 at the Beijing Exhibition Center. The event featured exhibitors not only from major Chinese cities such as Beijing, Shanghai, Shenzhen, and Guangzhou but also from various international jewelers. Chinese consumers showed consistent enthusiasm for gold, jade, pearls, and other precious items. Notably, there was a marked interest in colored gemstones, with a significant crowd around the booths of exhibitors from Pakistan and Sri Lanka.<\/p>\n
\u201cThe quality of colored gemstones from Pakistan and Sri Lanka caught my eye, so I stopped to ask about the prices. I might find something good to buy,\u201d a consumer shared with China Economic Net (CEN). \u201cIn 2023, the total import and export value of China\u2019s jewelry industry reached a record high of $145.334 billion, an increase of 8.62% year-on-year. Chinese consumers show a strong interest in gold and silver jewelry products for both their aesthetic and investment value. Additionally, Pakistan\u2019s exports of gems and precious stones to China saw a 47 percent increase in 2023, indicating growing recognition of the quality of Pakistani gemstones among Chinese buyers. Muhammad Amjad, the owner of PIEDRA, a Pakistani-colored gemstone company, brought emeralds, aquamarines, and other gems from Peshawar to the exhibition. \u201cI came to China in 2006 and have been in the colored gemstone business ever since.<\/p>\n
The reason for choosing to do business in China is simple: the good relationship between the two countries and the strong purchasing power of Chinese consumers. My partners here have never deceived me, which I value highly. Although sales have fluctuated in the past few years due to various factors, the market is now recovering, and I am very confident,\u201d Muhammad Amjad said. Since 2023, demand for colored gemstones in China has been steadily expanding, supplementing the traditional safe-haven asset of gold. According to market research by the China Gems and Jade Association (Beijing) Fund Management Co., the average price increase for colored gemstones across all categories in China during the first half of 2023 ranged between 30% and 50%. Prices for larger or relatively rare gems surged by as much as 100% to 150%. \u201cAlthough the demand for precious-colored gemstones hasn\u2019t surged as dramatically as that for gold, it has remained relatively stable, with a consistent customer base. In recent years, with the rise of e-commerce and social media platforms, younger consumers have become increasingly accepting of colored gemstones,\u201d said Ma Xiaozhong, a jeweler from China. Ma owns Muny Asia Jewellery, a colored gemstone company in Beijing, and has been in the business for over 20 years.<\/p>\n
\u201cWe source raw gemstones from around the world, process them domestically, and sell them both locally and in Western markets. Unfortunately, we haven\u2019t established stable cooperation with Pakistan.\u201d When asked why, Ma provided a cautious response: \u201cPakistan\u2019s gemstone industry has a longer history than China\u2019s. In Peshawar\u2019s gemstone market, you can find family businesses that have been around for a century. It\u2019s difficult for outsiders to enter the market, and it\u2019s not easy for foreigners to do business there. Pakistan\u2019s gem certification institutions aren\u2019t aligned with international standards, and some certification documents are not recognized.\u201d Ma\u2019s story highlights a missed opportunity. Various indicators suggest that China, as Pakistan\u2019s all-weather strategic partner, boasts a thriving and growing market for colored gemstones. Pakistan, with its diverse geological conditions, is rich in high-quality natural-colored gemstones. However, the two countries have not fully leveraged their friendly relations to explore the potential of this industry. Currently, a few Pakistani companies with stable cash flow, gemstone resources, and professional design teams have the necessary conditions to enter the Chinese market. In contrast, Peshawar-based traders, who rely on bulk sales, face numerous challenges in establishing deeper cooperation with China. From the perspective of a brand jeweler, Muhammad Amjad shared some insights with us: \u201cOne problem is that Pakistan lacks effective advertising methods.<\/p>\n
Chinese businessmen are smart; they use short video platforms like TikTok and Kuaishou to promote their brands or unique national gemstones, leaving a lasting impression on consumers and even driving up product prices. In contrast, we can only wait in Peshawar for buyers from other countries.\u201d Indeed, lacking product visibility hampers sales, especially for goods with financial attributes, but visibility must be predicated on quality. Muhammad added, \u201cSecondly, we urgently need to establish a gem certification institution that meets international standards. Our laboratories don\u2019t meet these standards, and traders from around the world label our gems with other countries\u2019 tags and sell them to high-end jewelry brands like Cartier. This harms us.\u201d Recently, Pakistani Prime Minister Shehbaz Sharif emphasized in a statement from his office, \u201cEfforts should be made to obtain international certifications for precious stones and the products made from them, and to ensure Pakistani representation in global exhibitions.\u201d Furthermore, Pakistan\u2019s gemstone export industry faces significant hurdles due to a lack of financial infrastructure.<\/p>\n
In Azad Market Namak Mandi, gem trader Abdul Ahad highlighted key issues: \u201cOne major issue is payment; many of our clients prefer PayPal, which is not available in Pakistan. Another issue is the lack of DHL branches, leading to slow shipping times of 15-20 days, despite using DHL\u2019s name.\u201d Another pressing challenge is gemstone cutting. High-quality cutting significantly enhances the value of gemstones, yet Pakistan\u2019s gemstone cutting sector remains underdeveloped. The equipment and methods used are outdated, resulting in lower-quality cuts. \u201cThe cutting techniques and tools in Pakistan are outdated. We lack modern machinery and rely on traditional hand-cutting methods, which cannot meet international market demands for modern cuts,\u201d Abdul Ahad added.<\/p>\n
Two weeks ago, Prime Minister Shehbaz Sharif emphasized in an office statement the need to develop the country\u2019s gems and precious stones sector, urging authorities to take steps to grant it the status of an industry. Under the trade bridge established by the China-Pakistan Economic Corridor (CPEC), the exchange of technology and equipment is inevitable. Colored gemstones could potentially become a cornerstone of Pakistan\u2019s economic revitalization.<\/p>\n","protected":false},"excerpt":{"rendered":"
BEIJING, Jun 4 (APP): The 2024 Beijing International Gold, Jewelry, and Gemstone Exhibition concluded on June 3 at the Beijing Exhibition Center. The event featured exhibitors not only from major Chinese cities such as Beijing, Shanghai, Shenzhen, and Guangzhou but also from various international jewelers. […]<\/p>\n
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