What kind of changes were there in the Chinese jewelry industry compared with the previous year?
The modern Chinese jewelry industry is developing at a rapid pace along with growing concentration of manufacturing facilities. At the same time jewelry companies and enterprises are swiftly growing in size. That is why all the jewelry market players are now in the process of reorganization. As an industry representative the Association sees its main task in taking advantage of favorable trends to help small enterprises drawing on the experience of large enterprises. Someone would think there is some contradiction about it. However, this is not so. If such a large market as the Chinese one will not create several dozens of large enterprises it will be a very immature market. The severe price war, uncivilized conduct and other forms of extreme competition during the last few years require a thorough analysis. We are seeking to set as an example the style of work demonstrated by large companies whose brands make up the main share of the market, the high quality of their products and serv
