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Thursday, May 17, 2012

Eastern China Jewelry Event Targets New Luxury Consumers

Hangzhou—the capital city and political, economic and cultural center of Zhejiang province—will host, Treasures Hangzhou, a new jewelry event in Eastern China October 24 to 26 at the Hyatt Regency Hangzhou.

The event will give the province’s jewelry consumers, private collectors and high-end jewelry retailers the opportunity to purchase jewelry, diamonds, gemstones, pearls and jadeite from international jewelry designers and manufacturers. Among these exhibitors are Hini Star Ltd, Golden Dynasty (HK) Ltd, Shenzhen Color And Diamond Jewellery Co Ltd, SYM Jewellery Co Ltd and Houlang Jewellery (Shanghai) Co Ltd.

The show is jointly organized by UBM China, the International Colored Gemstone Association and the Jewelry Jade Industry Association of Zhejiang.

Hangzhou, located about 100 miles southwest of Shanghai, is one of China’s second-tier cities whose consumer market is growing. Like in the rest of China, there are a growing number of high-end consumers in Hangzhou eager to enjoy a better lifestyle. According to the 2010-2011 World Luxury Association survey, Hangzhou ranks first among China’s second-and third-tier cities as having the highest consumption of high-end goods apart from Beijing, Shanghai and Guangzhou. A report released by Goldman Sachs showed that over the next five years, second-and third-tier cities including Hangzhou, Wenzhou and Ningbo, will account for much China’s high-end consumer market.

Nationwide, total consumption of gems and jewelry reached 70 billion Chinese yuan renminbi ($11 billion) in 2010. Of this figure, diamonds account for more than $1.1 billion, making China potentially the world’s largest diamond consumer market and the world’s second largest diamond processing country, according to the World Luxury Association. Jade also accounts for a large part of the total figure.

Treasures Hangzhou will be held concurrently with the “Liang Zhu Bei” Zhejiang Jade Carving Exhibition, also at the Hyatt Regency Hangzhou. This prominent carving art event in attracts art lovers and collectors throughout China, including high-net-worth individuals. During the Fair, a series of professional seminars will be held to give visitors the chance to enrich their knowledge of collecting and investing in high-end jewelry.