Shenzhen, a special economic zone in south China's Guangdong Province and a leading jewelry processing and distribution base for the nation, exported US$390 million worth of jewelry in the first eight months of the year.

The export volume was 8.2 percent higher than the year-earlier level, local customs sources said.

Of the total export volume; US$330 million came from processing.

Between January and August, Shenzhen sold US$310 million worth of jewelry to Hong Kong, up 7.7 percent, and US$25.27 million worth to the United States, up 10.8 percent. But the city's jewelry exports to the European Union went down 4.9 percent to US$26.54 million.

Industry insiders attributed the rosy picture for jewelry exports to easy access to overseas market information and advanced technology and techniques. Meanwhile, China scrapped an exam and approval system for processing trade in gold ornaments. The policy shift has helped jewelry processing businesses mushroom in Shenzhen.

There are now 2,093 jewelry exporters in Shenzhen, 628 more than a year earlier. However, only 55 of them have annual exports of US$1 million or more. The 55 firms contribute 89.6 percent of the city's total jewelry exports.

(Xinhua News Agency September 23, 2006)
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