With the Chinese economy forecast to expand 6.2 percent in 2019, talk of a slowdown in the world’s largest manufacturing center is largely a question of perception, and more of a comparison with the double-digit growth figures that were common during the first part of the decade.
“In future years the growth can be 6 or even 5 percent … but we must look at where the growth actually comes from,” suggested Jing Ulrich, managing director and vice chairwoman of Asia-Pacific at JPMorgan Chase. “Today, personal
personal consumption has been so much more important in driving China’s GDP growth and this transition will continue – the country becoming less reliant on investment and exports and more reliant more on personal consumption and services.”
During the fourth quarter of last year, personal consumption accounted for a full 75 percent of the growth figure, and that is good news for the jewelry industry, which is likely to consider the Chinese market as a primary target for year to come.
LVMH, the world’s largest retailer of luxury goods, with jewelry brands like Chaumet, Bulgari and Fred, and watch brands that include Tag Heuer, Zenith and Hublot, reported and acceleration of sales growth in China during the last three months of 2018, in stark contradiction to the country’s economic growth slipping to the lowest annual pace in 28 years.
TWIN JEWELRY AND GEM SHOWS, OVER SIX DAYS
A still expanding Chinese market will certainly be on the minds on the close to 90,000 registered buyers who are attending attend the twin jewelry shows being organized by the Hong Kong Trade Development Council (HKTDC).
The sixth HKTDC Hong Kong International Diamond, Gem & Pearl Show, which showcases jewelry raw materials, is taking place at AsiaWorld-Expo from February 26 to March 2, while the 36th HKTDC Hong Kong International Jewelry Show, which specializes in finished fine jewelry, will be held at the Hong Kong Convention and Exhibition Centre (HKCEC) in Wan Chai from February 28 28 to March 4.
It is the sixth straight year that the HKTDC has run the two shows in parallel in separate venues. In total, the two shows will feature a record of more than 4,600 exhibitors from 48 countries and regions.
The Hong Kong International Diamond, Gem & Pearl Show at AWE is organized into different themed zones, including the Hall of Fine Diamonds, the Treasures of Nature zone, which features colored gemstones and other natural raw materials, and the Treasures of Ocean, where an array of pearls will be on display.
MID EXHIBITING AT AWE, FEBUARY 26-MARCH 2
As it does at four Hong Kong shows each year, MID House of Diamonds is presenting a massive display of merchandise at the sixth HKTDC Hong Kong International Diamond, Gem & Pearl Show.
The MID booth will be located at Booth AWE2-RO2. It already is possible to set up an appointment at the show by contacting the company’s Hong Kong office at tel: +852-2-545-7118 or email: [email protected].
The MID booth will feature a more than 10,000 white and fancy-colored loose diamonds, including blue, pink, green and yellow, in all shapes and sizes from 0.30 carats to plus-10.00 carats. All eight of the company’s international sales offices will be sending much of their top-quality material, among them a selection of rare GIA certified loose diamonds.
Visitors to the Hong Kong Jewellery & Gem Fair are invited to discover what MID is offering by way of the company’s MID HOUSE OF DIAMONDS app. Designed for smartphones and tablet computers using the Apple IOS and Android operating systems, it has been created especially to meet the needs of the professional diamond trader, tapping into the massive global inventory of merchandise of one of the world’s largest diamond suppliers. It is a fully-functional ordering system. Users are able to conduct detailed searches for specific loose diamonds, receive real-time responses, visually examine the stones and relevant grading reports, view prices and place orders and requests. During shows at which MID exhibits, it provides information about booth location, directions and live updates.