Luxury tax cuts unstoppable jewelry jade prices

Recently, the statement that the tariffs of luxury goods may decline has attracted the attention of the market, but at the 2011 Shenyang International Jewellery Show held on July 8, the jade jewelry market in China is still bullish.

The temptation of jewelry Ministry of Commerce spokesman Yao Jian said recently that China will further reduce import tariffs, including tariffs on some high-end products. However, the imminent cut in tariffs will also “can't stop” the price of jewellery and jade all the way up. Many people in the industry who participated in the 2011 Shenyang International Jewellery Show stated that due to the scarcity of raw materials for jewellery and jade, domestic investment demand is strong and the market is still promising.

Qiu Weizhong, president of the Taiwan Jewelry World Magazine, said that since the beginning of this year, international diamond prices have been raised several times in a row, and the cumulative increase in diamonds has reached 30%, while the prices of high-end species such as jade and tourmaline have quadrupled in two years. And the rally continues.

On the display case of Taiwan's top Kang jewelry, a pigeon egg-sized jade gemstone ring has been estimated to have reached 20 million RMB. Some of the domestic jadeite rings that were exhibited were worth less than a million, even though they were smaller in size.

Zhou Wei, a designer of Taiwan Acer jewellery, said that the characteristics of Taiwan’s jewellery brands are that they are manufactured by Seiko. Many of the designs have reached world-class standards, but prices have been rising. In the final analysis, raw materials are playing a decisive role. For example, tourmaline, raw material prices have risen sharply over the past two years, and product pricing will only go higher.

“Now China’s economic development is getting better and better, and people’s investment aspirations are getting stronger and stronger. In recent years, the investment value of jewellery and jade has been gradually explored, which is also an important reason for pushing up prices.” Liang Jichang, Taiwan’s top Kang jewelry company introduced.

Chen Shihao, head of sales from Thailand’s Huidi Gemstone Co., Ltd., also stated that he hopes that the Ministry of Commerce’s bill to reduce tariffs will be introduced as soon as possible, but it is expected that there will be no significant impact on the overall rise in the price of jewellery and jade.

In 2011, the China Shenyang International Jewellery Show had an exhibition area of ​​10,000 square meters, 500 booths, and 230 merchants from more than 10 countries and regions. It was the largest jewelry industry event in the Northeast China.