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HKTDC twin jewellery shows attract exhibitors and buyers from 130 countries and regions, delivering robust results

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HONG KONG, Mar 5, 2023 – (ACN Newswire) – Following Hong Kong’s lifting of the mandatory mask mandate and full resumption of travel, business people from around the world flocked to the city’s first major trade fair. Organised by the Hong Kong Trade Development Council (HKTDC), the 39th HKTDC Hong Kong International Jewellery Show and the 9th HKTDC Hong Kong International Diamond, Gem & Pearl Show gathered over 2,500 exhibitors and successfully concluded today. The five-day fairs attracted over 60,000 buyers from 130 countries and regions, with significant increase in participation from Mainland China and the Asia region. In an on-site survey with around 700 exhibitors and buyers, about 60% exhibitors and buyers expected their business to return to pre-pandemic levels in one year, reflecting a positive outlook for the jewellery sector.
Sophia Chong, Deputy Executive Director of the HKTDC, said: “We are delighted to see the overwhelming support from industry buyers and exhibitors for the twin shows. The vibrant atmosphere, busy traffic and packed booths not only reflected the global jewellery market’s pent-up demand after three years and strong buying power, but also reaffirmed Hong Kong’s position as the world’s premier trade fair capital in Asia which brings the world together to do business and to build relationships.

“Looking ahead, we have many more trade events lined up for different sectors throughout the rest of the year, and with the policy support from the Hong Kong SAR Government, we are confident that trade fairs and conferences will help to re-energise the city’s economic recovery,” Ms Chong added.

Under HKTDC’s EXHIBITION+ hybrid model, global jewellers and traders can connect online for another week beyond the physical fair days until 12 March via the Click2Match smart business matching platform. Over 1,800 meetings between exhibitors and buyers have been scheduled.

Positive outlook with 60% exhibitors and buyers predicting uptick in sales this year

In a survey conducted on-site by the HKTDC, some key findings include:

Market and industry outlook:
– Around 60% of exhibitors (62%) and buyers (61%) expect their business growth to return to pre-pandemic levels in a year.
– More than 60% of respondents foresee that overall sales will pick up in 2023 and 74% of buyers anticipate a rise in sourcing cost.
– Factors that are expected to bring opportunities for the industry in 2023 include: the recovering purchasing power from customers (57%), rising demand from emerging markets (34%) and the potential to expand business in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) (13%).
– Anticipation of the growth prospects of jewellery products in the target sales market are satisfactory in the next two years: Mainland China (78%), Hong Kong (71%), ASEAN countries (64%), Northern & Western Europe (58%), North America (55%)

Challenges: fluctuations of the global economy (51%) and impact of inflation (46%) as well as fluctuating exchange rate (35%) were seen as key challenges.

Product trends:
– Karat white gold and Karat yellow gold are expected to be the most popular metal product in 2023;
– Diamond will be the most in-demand gemstone;
– Social media, e-commerce and big data will have the greatest impact on the jewellery industry in the next three years.

HK$100 million sales recorded by some exhibitors

In addition to the high volume of buyers and exhibitors, robust business results were seen across the shows. Exhibitor Bruno Scarselli and Davide Scarselli, Co-owners of Scarselli Diamonds Inc, from the United States shared: “The twin shows are making a strong comeback this year. After the pandemic, the mood is positive and buyers are willing to buy. We have met a lot of buyers from Europe, Japan, Korea, Mainland China and the Middle East who are very interested in our blue and pink diamonds. Twelve buyers, including six from Mainland China, already placed on-site orders amounting to US$11-12 million for our fancy colour diamonds.”

Hong Kong exhibitor Imran Khan, Director of Sparkle Gems Global Inc, said: “We first joined the HKTDC show 12 years ago because it is the best platform for suppliers from all over the world to promote their raw materials to international buyers. We are showcasing emeralds and tanzanites, with prices ranging from US$50 to US$10,000. We met 10 buyers from Europe, Mainland China and the US who placed on-site orders for our emeralds worth a total of US$1 million on the first day. We expect our on-site orders we receive at the show to amount to US$3 million.”

Zhuji City from Zhejiang Province, Mainland China made their debut at the show. Chen Wenjin, Deputy Mayor of Zhuji City said: “A total of 49 Zhuji companies have gathered at our pavilion and we also organised a delegation from 300 companies to source at the shows. The show is an excellent platform for our pearl companies to connect with overseas buyers. We expect total sales of over RMB100 million.”

One of the exhibitors, Tota Koyama, Chairman of the Japan Jewellery Association said: “Now that travel restrictions have been removed, Japanese jewellery companies are very happy to come to Hong Kong. We’ve brought 86 jewellery companies from Japan to participate in the Jewellery Show, and 69 companies in the pearl business to join the Diamond, Gem & Pearl Show. The response from buyers is better than expected and we’ve recorded very good sales. The purchasing interest is particularly strong from Mainland Chinese buyers.”

A jewellery buyer, David Abraha from the United States said: “The Hong Kong International Diamond, Gem & Pearl provides an important platform for me to meet suppliers from worldwide at one place. I always come here to connect with new suppliers. At this year’s show, I have found suppliers of loose diamonds from Belgium, Israel and Hong Kong. My budget is up to US$5 million.”

Qian Yiting, Chief Operating Officer of Wuxi Yinlou from Mainland China said: “The show has staged a strong comeback this year with the relaxation of pandemic policies. I have visited jewellery fairs in Japan and Korea, but the Hong Kong International Jewellery Show is definitely the best one showcasing an amazing mix of jewellery from all over the world. I have already met with six exhibitors from Hong Kong, Japan, Australia and Thailand through the Click2Match business matching service.”

More major fairs for technology and lifestyle sectors

On the heels of these two exhibitions, the HKTDC will organise a series of trade fairs in April, including InnoEx, Hong Kong Electronics Fair (Spring Edition) and Hong Kong International Lighting Fair (Spring Edition) on 12-15 April; Hong Kong Gifts & Premium Fair, Fashion InStyle, Home InStyle and more on 19-22 April. These events will provide buyers with a unique one-stop souring experience and help exhibitors expand their market reach, while boosting Hong Kong’s economy.

Websites:
– Hong Kong International Jewellery Show: https://www.hktdc.com/event/hkjewellery/en
– Hong Kong International Diamond, Gem & Pearl Show: https://www.hktdc.com/event/hkdgp/en
– HKTDC Media Room: https://mediaroom.hktdc.com/en
– Photo download: https://bit.ly/41KMt3v

About HKTDC

The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn.

Media enquiries
Please contact the HKTDC’s Communications & Public Affairs Department:
Janet Chan, Tel: +852 2584 4369, Email: janet.ch.chan@hktdc.org
Frankie Leung, Tel: +852 2584 4298, Email: frankie.cy.leung@hktdc.org


Topic: Press release summary


Source: HKTDC

Sectors: Trade Shows, Daily News, Regional, Watches & Jewelry, Local Biz

http://www.acnnewswire.com

From the Asia Corporate News Network

Copyright © 2023 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

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Israeli attacks in Gaza add to the heavy Palestinian toll in the war on Hamas.

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Israeli attacks in Gaza add to the heavy Palestinian toll in the war on Hamas. Israeli forces bombarded the central region of Gaza by land, sea, and air. Palestinian officials claimed scores more casualties, and the United Nations health agency stated that thousands of Palestinians were attempting to leave the fighting.

Israel has not wavered in its determination to eradicate the Palestinian militant group Hamas as a reaction to the terrorist organization’s attack on Israel on October 7. This is the case, although international requests have been made for a ceasefire and an improvement in the deteriorating humanitarian situation in the Gaza Strip.

Late on Wednesday, medical personnel reported that Israeli aircraft had carried out three attacks in the Al Nuseirat neighborhood of central Gaza, resulting in the deaths of seven people and injuries to numerous more.

The World Health Organization of the United Nations said that its personnel had witnessed tens of thousands of civilians escape severe strikes in Khan Younis and the Middle Area by walking, riding donkeys, or driving into vehicles. A statement made on Wednesday stated that improvised shelters were being constructed along the road.

On the diplomatic front, where international pressure on Israel has increased, French President Emmanuel Macron sent a call to Israeli Prime Minister Benjamin Netanyahu, in which he emphasized the necessity of working for a truce that is both long-lasting and sustainable with the assistance of regional and international allies, according to the French Presidency.

An Israeli bombardment on Wednesday near Al-Amal Hospital in Khan Younis, which is located in the southern Gaza Strip, resulted in the deaths of twenty Palestinians, according to a statement released by the Gaza Ministry of Health. Immediately after the incident, the Israeli military did not provide any remarks.

Medical personnel said that one airstrike resulted in the deaths of five Palestinians in the Al-Maghazi region of central Gaza. Meanwhile, health authorities reported that seven Palestinians’ bodies arrived at Al Shifa Hospital in Gaza City, which is located to the north as well.

As night fell, residents in the central Gaza Strip said that Israeli tank bombardment intensified east of Al-Bureij and Al-Maghazi, which is the area where tanks have been attempting to force their way through.

An increase in Israeli Army casualties
The Israeli military said on Wednesday that three more troops had been killed in action in Gaza, raising the total number of military casualties to 166 since the beginning of ground operations on October 20.

On October 7, the worst day in Israel’s history, Hamas carried out a cross-border rampage that resulted in the deaths of 1,200 people and the kidnapping of 240 hostages. This led to the outbreak of war. The response of the Netanyahu administration has destroyed a significant portion of Gaza, which Hamas administers.

According to the Gaza health ministry, the number of Israeli assaults that resulted in deaths and injuries in the enclave was 21,110 lives lost and 55,243 people injured.

It is estimated that nearly all of Gaza’s 2.3 million residents have been forced to leave their homes.

BLOODLINES OF VIOLENCE

Several countries in the Middle East and the West have expressed concern over the war’s expansion, which now includes the northern border between Israel and Lebanon. According to sources inside the security sector, Hezbollah launched a more significant number of rockets and drones armed with weapons on Wednesday than it has on any other day.

The cabinet minister, Benny Gantz, stated that the situation must be changed. The Israeli military has stated that its airplanes have hit military positions belonging to Hezbollah as well as other locations in Lebanon.

During a news conference, he stated, “The Israel Defense Forces will do it if the world and the Lebanese government do not act in order to prevent the firing on Israel’s northern residents and to distance Hezbollah from the border.” He was alluding to the Israeli military.

In Washington, Vice President Joe Biden stated that the purpose of the United States military strikes that took place in Iraq on Monday was to discourage Iran and militia groups that Iran supports from launching attacks against American personnel and bases. Three Americans suffered injuries as a result of an earlier Monday drone attack by militants with ties to Iran.

Since the beginning of the war, there has been an increase in the number of confrontations that have taken place between Israeli forces and Palestinians in the occupied West Bank. According to the Palestinian health ministry, a drone strike that occurred on Wednesday during an Israeli raid in Tulkarm killed six Palestinians.

Israeli military forces came under attack from militants in that area during a counterterrorism operation, who threw explosive devices at them. The Israeli military has denied any involvement in the attack. An Israeli Air Force aircraft was said to have struck the individuals who carried out the attack.

The conflict occurred in the Nour Shams refugee camp in Tulkarm, a city considered a flashpoint due to its location on one of the primary crossing points into the West Bank.

Witnesses say the six men slain were seated together in the early hours of the morning but were not involved in fights with Israeli soldiers.

“We heard the sound and the screaming; our house is nearby so we came out to see,” said Izzaldin Assaili, a local who lives nearby.

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Russians are banned from traveling and must hand over passports within five days.

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By a regulation issued by the government that will go into effect on Monday, Russian citizens who have been prohibited from traveling outside the country will be required to hand over their passports to the authorities within five days of receiving notification of the restriction.

A travel ban can be imposed by the authorities in Russia on a variety of individuals, including conscripts, employees of the Federal Security Service (FSB), convicted individuals, and anyone who have access to state secrets or “information of special importance,” amongst other categories of individuals.

The passport that has been returned will be kept in storage by the authority that issued it, such as the authorities employed by the Ministry of the Interior or the Ministry of Foreign Affairs.

Therefore, by the order issued by the government, the passport may be restored following the completion of an application after the travel ban has been lifted.

According to the resolution, those whose freedom to travel was temporarily restricted because they were required to serve in the military or an alternative civilian capacity would be required to present further a military identification card that includes evidence that they have finished their duty.

The Financial Times reported in March, citing unidentified people close to the situation, that Russia’s security services were taking the passports of top officials and executives of state companies to prohibit them from traveling outside the country.

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POLITICS

China’s Li promotes greater cooperation with Indonesia.

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Chinese Premier Li Keqiang has advocated for greater cooperation between China and Indonesia, emphasizing the importance of strong bilateral ties. This article delves into the significance of Li’s visit and the potential areas of cooperation between these two Asian nations.

Chinese Premier Li Keqiang has embarked on a mission to enhance cooperation and strengthen diplomatic ties between China and Indonesia. China and Indonesia hold significant regional influence, and their cooperation can have far-reaching implications in Southeast Asia and beyond.

Economic collaboration is a key focus of discussions, with trade and investment central to the bilateral relationship. Infrastructure development projects like the Belt and Road Initiative may offer joint ventures and partnership opportunities. Cooperation on maritime issues, including security and trade, is of mutual interest, given Indonesia’s strategic location.

Enhancing people-to-people exchanges, such as cultural programs and educational partnerships, can strengthen the bonds between the two nations.

China’s relations with Southeast Asian countries like Indonesia have geopolitical significance, with both nations navigating complex regional dynamics. Collaboration between China and Indonesia can contribute to regional stability and economic growth in Southeast Asia.

Both nations face shared challenges, including environmental concerns and the need for sustainable development.

In conclusion, Chinese Premier Li Keqiang’s visit to Indonesia underscores the commitment of both nations to strengthening their bilateral ties. The potential for enhanced economic cooperation, infrastructure development, and collaboration on regional and global issues paves the way for a deeper and more impactful relationship. As these two influential Asian nations explore areas of mutual interest and address shared challenges, their partnership can shape Southeast Asia and contribute to regional stability and prosperity.

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