China unveiled a new collection of $1 billion jewellery on Wednesday to mark its 20th anniversary of opening the country’s largest jewellery market.
The jewellery was unveiled by the Ministry of Commerce, Industry and Information Technology, in Beijing.
The government said the collection of high-quality goods and services, including jewelry, would be available for sale to the public for the first time.
It said that since opening the jewellery industry in 2000, the value of China’s jewellery trade has grown to $20 billion a year, and that it will be the countrys largest jewellers market.
“The number of Chinese jeweller’s shops is rising every day.
We are in the process of expanding this market,” Li Keqiang, vice chairman of the Chinese People’s Political Consultative Conference, told reporters at the opening ceremony.
Li said China was making significant investments in the jewellery sector, including in making it easier for domestic buyers to buy Chinese goods.
He said the new jewellery collections would be offered in two styles: a traditional style that would be more durable and elegant, and an alternative style that was more casual and fashionable.
He also said China would introduce a new generation of Chinese collectors to the market.