精辟视野 JNA Jan/Feb 2022 | 27 export growth momentum. From January to October 2021, Hong Kong’s total exports of fine jewellery were valued at over HK$60 billion (around US$7.7 billion), a 59 per cent increase year on year. This is a testament to the perseverance, calm, resilience, determination and hard work of Hong Kong jewellery stakeholders in the face of adversity. JNA: What should Hong Kong do in order to sustain business growth? HKJJA’s Cheung: Having a forward-looking strategy is critical to success. Hong Kong should capitalise on its strengths and expertise, namely providing the world with mid- to high-end jewellery. We cannot successfully compete in the lower end of the market. Moreover, we have been servicing Western jewellery markets for decades. It is time for Hong Kong to also look to Asia. Hong Kong’s jewellers should head north to further explore the mainland market. China’s jewellery industry has matured in recent years and offers plenty of business opportunities that we have yet to tap. Southeast Asian markets likewise hold strong potential for growth. That said, we cannot ignore our traditional markets, including the US. But a single-direction business model no longer works. While securing our established markets, we need to reach out to new ones. HKJMA’s Yip: Further engagement with Southeast Asia and the Greater Bay Area of China is essential, particularly since we expect more favourable policies and supportive measures to be formulated for jewelleryrelated businesses. China is one of the world’s largest economies with a huge purchasing power – opportunities abound in its relatively cheaper costs and its potential as a market for high-end jewellery items. We also welcome the development of the world-class rough diamond and gemstone processing centre in Macau under the Hengqin-Guangdong-Macao cooperation zone. These reinforce the strategic importance of China in Hong Kong’s growth strategy. JNA: How can Hong Kong jewellers make further inroads in the mainland? HKJJA’s Cheung: The China market is too big and diverse for a one-size-fits-all approach. We should focus strategically on certain regions and gain a foothold there before venturing to the next area. We do the same in the US where we are active in specific states rather than the whole country. Most of Hong Kong’s jewellers are small and medium enterprises; the best strategy is to work closely with local partners to gain a stronger foothold on the mainland. Since the Greater Bay Area is close to Hong Kong, it is an ideal gateway to the mainland. The area is 10 times the size of Hong Kong and has a total population of over 100 million people. Hong Kong jewellers should have a base in Shenzhen and Panyu, from which they can expand to other cities that have jewellery requirements. JNA: What are your priorities this year? HKJMA’s Yip: As chairwoman of HKJMA for 2021-2023, I shall take a pragmatic and proactive approach to lead the team in overcoming difficulties and reviving our industry in the long run. HKJMA will continue to promote and facilitate digitalisation and value creation to support the sustainable development of our industry. Our J-Hub initiative encourages younger generations’ involvement in the four key pillars of Hong Kong jewellery – Design, Knowledge, Craftsmanship and Assurance – in keeping with our motto, Hong Kong Jewelry, Global Brilliancy. HKJJA’s Cheung: It is important to help our members know more about China and impress upon them that this is where the future of the jewellery industry lies. The mainland market has matured; affluence has grown; ease of business has improved. HKJJA will help its members venture into this market. I also intend to inspire Bronia Yip, chairwoman of the Hong Kong Jewelry Manufacturers’ Association 香港珠宝制造业厂商会(HKJMA)主席叶美珠 Louis Cheung King Yau, chairman of the Hong Kong Jewellery & Jade Manufacturers Association 香港珠宝玉石厂商会(HKJJA)会长张敬猷
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