12 Aug 2022
DiamondWorld Directory
Home |
Chinese Delegation Visits India
A high-level Chinese delegation from Panyu visited Mumbai... Archival : 2005 : March-April : Cover Story
By: Administrator
Jun 9 2005 12:00AM
Reference: 2266  


A high-level Chinese delegation from Panyu visited Mumbai and Jaipur in March this year to strengthen trade ties between the two countries.

Since China's 'opening up for the outside world' policy there has been a remarkable increase in foreign trade. In lieu of increasing foreign investment into China, the Panyu city which aspires to become "the jewellery city of the East" has opened doors for manufacturers.

One such scheme, Worldmart Jewelry & Gems Emporium Ltd, which is likely to go on stream at the end of July in Panyu city, is a trading platform for rough and polished diamonds and gemstones for global manufacturers.

The economy of Panyu, a largest production base located in the southeastern part of Guangzhou city in South China, at present has more than 200 jewellery or jewellery-related companies, with more than 50,000 employees. The total production value in 2004 exceeded RMB7 billion and total exports topped the record of $890 million, up 20% from the previous year, while the export has still maintained consecutive increase of 20% and more for many years.

Hong Kong exports reached $2.2 billion of which 50% was contributed by Panyu the last year, said Carol Cheung, the strategic director of Worldmart.

Most of the gold and jewellery products made in Panyu are exported for sale to Europe, America, South East Asia and Japan via Hong Kong. Figures from Hong Kong's authorized statistics show that the quantity of the gold and silver ornaments made in Panyu has come to half of the total being sold in Hong Kong, including those being exported for trade via Hong Kong, while it has achieved a level of 25% of the total exported by China.

The Jewellery industry in Panyu encompasses the entire business, ranging from equipment making, diamond polishing, gold inlaid ornaments, silver ornaments, pure gold, karat gold, precious crafts and jewel watches, etc. The products have a wide range of grades and full specifications and are famous for design's originality and elegant craftsmanship. And time after time, the products have also won competitions for best designs both in China and in the world enhancing China's international image and enabling Panyu to enjoy the fame as quality jewellery producer in the world. Now it has already rendered Panyu to be the largest production base of jewellery in China or even in southeast Asia.

"China has the policy but not the raw materials. At present all raw materials are being imported. India is a major exporter of raw materials like diamonds and gemstones," says carol.

Now we can change, smoothen our production line and make Panyu the jewellery city of the world depends on how we sort out the need for raw material that is diamond and gemstones and how to cooperate with the outside world and international traders.

"We are thus setting up a place using the manufacturing foundation of the purchasing center. We need to sort out what to supply first to the manufacturer in Panyu.

"We are linking up with Belgium and Italy and a delegation is already in South Africa meeting the SA diamond association people to deliberate on this issue. A team has already been to Dubai to meet traders and jewellers there," said Carol.

Optimistic about the outcome, Carol said that there has been a positive response from all the countries their team has visited. "We have found that all are very excited about this project as they can bring in what they want and sell it too.

"Over one-fifth of India's exports consist of jewellery. We want to concentrate on this aspect and look at the potential of how we can broaden links with India. Thus, we are here in India to see the traders and jewellers and work with the right people," she added.

The delegation met traders and jewellers through the Gem and Jewellery Export Promotion Council which had organized a seminar. "We presented a glimpse of the Panyu city and the potential it holds for jewellery and diamond manufacturers. Especially the bringing in of raw material and the route of taking the finished products without problem because of China's new policy," said Carol.

China also has the added advantage of efficient labour. "The craftsmanship of the Chinese in cutting and polishing diamonds is very mature and comparatively better than India. The labour cost is very attractive in China," claims Carol. "This is a world recognized fact."

There are already many manufacturers from India who have production units in China. "Through this project if we are able to smoothen the production chain more manufacturers are willing to come," she added.

"We thus meet in one place and cover up the whole world. This is now possible with the backing of the Panyu government and the Customs. What Worldmart will do is to smoothen up all difficulties faced by manufacturers like setting up a shop, trading, taxation, clearing customs etc., all will be settled," she explained.

Chan Yuen Hing, CEO of Worldmart said, "We provide space for buyers and sellers to meet and an office of up to 50 sq. ft. We are also dealing with all diamond and jewellery associations around the world in order to link up Panyu and smoothen the process for getting the raw materials like diamonds which is now coming from Africa, Russia and of course also gemstones from Thailand and other countries."

"In order to bring the world under one roof, similar delegations of Worldmart from China have visited Dubai, Africa and other major diamond and gems and jewellery producing countries to spread the message of the up-coming jewellery complex in Panyu", he added.

Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet
Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
*  Company:
*  Name:
*  Mobile:
*  Email:
Subscribe for DiamondWorld weekly Newsletter
Search News by City
Recent Issue
News in Pictures
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 31230
Diamond World Expert Hour with Evgeny Agureev, Deputy CEO, ALROSA
Views: 8533
GJEPC Chairman Interview
Views: 27430
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 38200
Promo for IJ Awards 2012 at NDTV Profit
Views: 55973
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 67526
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 21292
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 49908
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 51648
Finestar Diamonds
DW News App