Jewelry shops stand in great numbers on either side of Shuibeiyi Road in Luohu district. On their counters, all kinds of jewelry pieces glitter in the bright sunshine of May.

There are 27 professional markets and more than 7,000 gold and jewelry enterprises in the Shuibei-Buxin Jewelry Industry Cluster Zone covering an area of 1.1 square kilometers. Tens of thousands of jewelry pieces are sent from here to all parts of the world every day.

The gold jewelry industry is showing strong growth momentum this year. In response to domestic demand, Luohu is actively building a new development paradigm featuring dual circulation, and is carrying out 10 projects to extend its jewelry industrial chain and stimulate jewelry consumption, so as to explore a new path for the high-quality development in the post-epidemic era.

Starting from scratch, the sector developed into a pillar to Luohu’s economy.

To enhance the industry’s core competitiveness, Luohu encourages the enterprises to increase their input in research and development, promotes the application of robots and awards designers for outstanding work.

The district has established a public service platform for jewelry designers that covers an area of about 13,000 square meters and is now home to more than 20 jewelry design agencies. It has funded more than 60 jewelry designers to study in the United Kingdom, France, Germany and Italy, etc.

The Shenzhen Jewelry Designers’ Association was also founded in Luohu, and its first overseas branch has been established in Italy.

Data reveals the gold processing volume of Shuibei accounts for about 70% of the annual delivery volume of the Shanghai Gold Exchange; the platinum processing volume accounts for 70% of the annual delivery volume of the Shanghai Platinum Exchange; and the amount of diamonds accounts for 60 to 70% of the annual delivery volume of the Shanghai Diamond Exchange.

In 2019, the total output value of Shuibei reached 110.76 billion yuan ($17.22 billion), accounting for 50% of the domestic market share.

The Luohu district government and the Shenzhen Customs have jointly established a jewelry bonded services (trade) platform, where jewelry companies can check the available goods and finish the transaction on the platform before paying import tariffs. It not only becomes more convenient for the jewelry enterprises to do business, but also reduces their business and financial risks.