FOCUS 20 | JNA September/October 2022 Zbird store 钻石小鸟店面 中国着眼钻石业务稳定性 China eyes stability in diamond trade Covid-19 has wreaked unprecedented havoc on China’s jewellery and diamond business. While key indicators improved in June and July, the industry still has a great deal of catching up to do to achieve strong recovery. 新冠疫情对中国的珠宝和钻石业务造成了前所未有的打击。虽然关键指标 在6月和7月有所改善，但是行业实现强劲复苏仍然任重道远。 | Julius Zheng 郑嵘 | Turbulent times have plagued China’s gem and jewellery industry since the latest wave of Covid cases hit the country in 2022. Business districts and manufacturing centres were placed on strict lockdown, dealing a heavy blow to the local economy, the jewellery and diamond trade included. Green shoots of recovery however are gradually taking hold amid fluctuating growth, industry experts said. Retail challenges The impact of Covid lockdowns was most evident in the first half of 2022, particularly in Tier 1 cities. Retail stores in the major business district of Shanghai were closed while jewellery manufacturing in Shenzhen and Guangzhou were put on hold. When businesses partially resumed in June 2022, there was no pent-up consumer demand to spur sales, unlike in early 2020. Physical retail stores continued to face interrupted business hours, reduced in-store traffic and weak consumer sentiment. According to the National Bureau of Statistics of China, total retail sales of jewellers selected for key sampling or those with annual sales of US$771,000 and above dipped 1.3 per cent year on year in the first half of 2022. However, the figure grew 8.1 per cent in June and 22.1 per cent in July, pushing January to July sales up by 1.5 per cent year on year. Online sales on the other hand were on the rise for a great deal of jewellers. According to China-based diamond jewellery retailer Zbird, its online sales from January to July 2022 rose more than 187 per cent
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