Hong Kong Jewellery Market
Hong Kong jewellery industry can be divided into two main categories: precious metal jewellery and imitation jewellery. In terms of production and sales volume, precious metal jewellery gets the lion’s share. Manufacturers in Hong Kong are specialized in creating contemporary design jewellery set with diamonds, precious and semi-precious stones as well as pearls. Jewellery “made in Hong Kong” is highly renowned all over the world and attains a higher standard of craftsmanship over their counterparts in other South East Asian countries; nevertheless it lags behind the state-of-art technology of Italy and Japan.
In particular, Hong Kong leads the world in the production and consumption of 24kt gold With Hong Kong’s reunification with Mainland China, many manufacturers have moved their production facilities back to China, especially mass production and labour intensive jewellery. Shenzhen is developing at a fast pace in chain-making and jewellery casting from medium to low end price range; in Panyu county around 250 factories are found, the majority belongs to Hong Kong manufacturers that produces jewellery adorned with diamonds, precious stones and pearls.
These companies maintain their facilities in Hong Kong for design output, management and control and not to mention the production of high end jewellery which requires a more skilled craftsmanship. In view of the restructuring of the jewellery industry in Mainland China, the levels of efficiency and technology standard have improved as a result of joint venture with foreign producers like Hong Kong.
Certain production phases are made in their factories in Southern China and subsequently ship back to Hong Kong for other value-added processes before delivery to overseas customers This phenomenon can explain an increase in imports and re-exports and a cut-throat competition existing not only in the local market, but also with Thailand, Singapore and Korea who profit either from a rich resources of raw materials or a rise in the production capacity.
