The 2023 Shenzhen Jewel Festival and the 10th China Gold Jewelry Ceremony opened at the IBC mall in Luohu district on Sept. 6, featuring seven themes and over ten activities, extending until December.

A report was released at the ceremony revealing trends in the gold jewelry market, as well as a list of leading gold jewelry service providers in 2023. With a focus on industrial demands, the event, founded in 2014, is dedicated to promoting intelligent manufacturing, innovative materials, and digital transformation in the industry.

Tao Minghao, Party Chief and president of China Gold News, as well as head of the Beijing Gold Economy Development Research Center, said that the activities aim to boost demand and consumption in Luohu while also helping to establish Luohu as a global consumption center.

Luohu is China’s largest gold and jewelry base, boasting leading development and advanced industrial chains. The district’s gold and jewelry transaction volume has surpassed 120 billion yuan (about $1.6 billion), accounting for 50% of the national total.

Xiao Jiarui, Luohu’s deputy mayor and a member of the leading Party members group, revealed that the local government will enhance Luohu’s business environment through targeted policies and intensified efforts to help the jewelry industry’s development, with the goal of building a “Global Jewel City.”