FOCUS 18 | JNA November/December 2022 Shining House retail shop 钻石世家店面 中国珠宝业：挑战和亮点 China navigates challenges and bright spots in jewellery sector Amid a general recovery in China’s jewellery sector, key indicators point to continued challenges in turnover and profit for jewellery retailers and wholesalers. 中国的珠宝行业整体复苏，然而关键指征显示，珠宝零售商和批发商的 营业额和利润持续面临挑战。 | Julius Zheng 郑嵘 | The year 2022 was particularly tough for China’s jewellery industry. Covid outbreaks in several cities, coupled with hard lockdowns under the country’s strict zero-Covid policy, weighed heavily on significant jewellery markets and manufacturing hubs such as Shenzhen, Guangzhou, Shanghai and Beijing. According to the National Bureau of Statistics of China, jewellery sales based on key sampling involving jewellers with annual sales of RMB5 million (around US$759,000) and above fell by 1.3 per cent in the first half of 2022. Sales however saw a 2.2 per cent year-onyear growth from January to September, demonstrating slight recovery. While plain gold jewellery remained highly favoured among Chinese consumers alongside pearls, smaller, independent players were more challenged. Many chain stores saw declining profit rates. Allure of diamonds Diamond jewellery accounted for US$15.5 billion or 13.9 per cent of China’s overall jewellery retail sales in
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