Jewelry Fair in HK Gleams China's Bright Economic

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Last updated at: (Beijing Time) Friday, September 27, 2002

Jewelry Fair in HK Gleams China's Bright Economic

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Objects of opulence, such as gold, diamonds, gems and pearls have ornamented the Hong Kong Convention and Exhibition Center - the glittering beacons trade visitors and dilettantes from around the world.

From Sept. 25 through to Sept. 29, shining pearls, glaring 24K gold necklaces and bric-a-bracs, eye-soothing nephrite jade sculptures depicting serene Chinese mountain scenes, and pure, translucent diamonds have mingled into a diadem for Hong Kong as the Asian hub of trade fairs and exhibitions, yet another sign that says it all - the Hong Kong Special Administrative Region (SAR) and the Chinese mainland economies are still shining brightly, despite the lackluster economic growth in the United States and Europe.

The five-day event celebrating the 20th year of Hong Kong hosting the Hong Kong Jewelry and Watch fair is also featuring jewelry making equipment, tools, packaging jewelry timepieces, precious materials, publications, and booths for jewelry-related associations. And over 30,000 trade visitors from 100 countries and regions are expected to attend the fair.

This year's exhibition also sees one new participating country, Israel. Israel's national pavilion features 39 renowned Israeli diamond manufacturers and exporters.

Since its inception in 1983, the fair has been playing an important role in providing a high-quality sourcing forum in Asia to global buyers.

This year, a total of 1,735 exhibitors have joined the fair. The number of exhibitors has grown nearly 14 times as compared to 1983, and the visitor number has also increased from 6,000 in 1983to 26,685 in the 2001 fair. Exhibitors from over 50 countries are represented in this year's event, in addition to the 854-strong Hong Kong and Chinese mainland contingent.

The Chinese mainland is well known for being the manufacturing base of jewelry, as new technology of jewelry production is constantly developed and the new gem ores are discovered. One exhibitor, Hong Kong-based leading Hang Fung gold Technology Limited, which has production facilities in Hong Kong and the Chinese mainland, is expanding its North American market.

Leveraging on its expanded production capacity in China's mainland, the group plans to develop its overseas markets further through its active participation in both local and overseas exhibitions, strategic advertisement promotions and its responsive on-line ordering services.

Kathy Ng, President of Hang Fung Gold Technology Limited, told Xinhua in a news briefing that it believes that North America is a large market and that it has decided to promote their 24K gold jewelry to target customers through the 24-hour TV channel and on-line shopping solution.

The company is obviously beefing up its advertising effort, after the North American market was hurt by the September 11 attacks last year. "Last year about one-fourth of our revenue was generated from overseas markets, despite a general downturn in demand after the September 11 attacks," she said.

Jewelry exports from Hong Kong increased eight percent in the first quarter of 2002. Hong Kong's jewelry exports in 2001 were estimated to be 2,085 million dollars.

"The September Hong Kong Jewelry and Watch Fair is growing with Hong Kong's jewelry sector. The fair is well-established as the ultimate forum for the Asia's jewelry business," jewelry fairs manager of CMO Asia Ltd, Celine Lau, said.

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