China has reduced import duties on 18 jewelry categories by reclassifying them as everyday consumer goods, according to the Guangzhou Diamond Exchange.
The Customs Tariff Commission of the State Council has cut the rate by an average of 68% across those categories and the new rates will go into effect on July 1.
The above tariffs reductions on jewelry have been extended, after the Jewelry Extended Fashion Industry Alliance was inaugurated as a project in Shenzhen, China in May 2018, as a part of the “Belt & Road” initiative of China, which also includes, among other countries, Sri Lanka. These tariff reductions will be a boost for the gem and jewelry export industry of Sri Lanka, which is represented on the Board of the Jewelry Extended Fashion Industry Alliance.
The International Business Center of Shenzhen Shuibei Jewelry Group, under the leadership of its President Mr. Lu Lihang, ceremoniously launched a contemporary and futuristic Project in May 2018 to develop and promote a “Belt & Road” Jewelry Extended Fashion Industry Alliance, with Headquarters in Shenzhen, China. The inauguration was attended by a distinguished gathering of persons from political elites of China and several other countries globally, including Sri Lanka, and the President and Members of the International Coloured Gem Stone Association, Jewelry and Gem Stone Associations, Chinese and other Chambers of Commerce and strategic related Agencies. The Alliance comprises of 45 International Organizations and Jewelry Associations of more than 20 countries.
Mr. Lu Lihang
Jewelry Extended Fashion Industry Alliance shall be a platform for those world-class companies and research institutions along the “Belt & Road” areas that endeavor to co-operate in jewelry and fashion industry at international level in the field of production, research and development, with policy guidance from states and market oriented results. It shall also provide services to the fashion and extended industry worldwide, with its platform. With the collective efforts of its Members and their advantages of various resources, Jewelry Extended Fashion Industry Alliance will actively carry out exchanges and co-operation in jewelry, fashion, finance, culture, technology and enhance health, and jointly promote the healthy and sustainable development of companies in the global jewelry extended fashion field.
The founding of this Alliance only symbolizes the magnificent beginning of a long march. The future development of the Alliance requires to work together with the globalized vision and an international strategy of the gem and jewelry industry which is related to fashion. The Alliance will integrate high-quality resources in the global jewelry extended fashion field, fully playing the bridging role to create an integrated platform for the globalization of the jewelry extended fashion industry, promoting global co-operation and strengthening horizontal development and vertical integration of industrial chains among enterprises. Furthermore, it will mobilize advantageous resources and form industry cluster for mutual benefit and win-win results in order to build a jewelry extended industry economic community.
Some of the participants at the inauguration had been : Mr. Korn Dabbaransi, Former Vice Premier of Thailand; Mr. Svetozar Krstic, Former Vice Premier of Serbia; Mr. Clement Sabbagh, President of the International Colored Gemstone Association (ICA); Mr. Li Guixiong, Chairman of Thai Young Chinese Chamber of Commerce; Mr. Ken Lo, Chairman of Hong Kong Jewellery & Jade Manufactures Association; Mr. Didier Giard, President of the Association of Gemmology for France (AFG); Mr. Armil Sammoon, Chairman of Sapphire Capital Group (SCG); Mr. Guillermo Galvis Morales, President of Acodes, Colombian Emerald Exporters Association; Mr. Ro Jae Hun, Chairman of Korea China Culture Center.
The vision–Jewelry trade is the most important commercial form of “Ancient Silk Road”. More than 2000 years ago, persons began to exchange information between East and West through sea and land trade channels. More than 30 kinds of jewels were traded between Asia and Europe. The “Belt & Road” initiative has provided an opportunity to promote the community of human destiny through the ‘Jewelry Extended Fashion Industry Alliance’. It will promote industrial upgrades and interactions ranging from raw material extractions to deep procession of jewelry, marketing, strategic and developing fashion art design.
The Shuibei Jewelry Group and International Business Center will offer one base and seven centers for the growth of the “Belt & Road” Jewelry Extended Fashion Industry Alliance, as a ‘state of the art’ international gem, jewelry and design platform, with an ultra-modern futuristic complex in Shenzhen, China to be the global center. Renowned International Business Consultant from Sri Lanka Mr. Nihal Sri Ameresekere of Consultants 21 Ltd., has been co-opted as a Member of the Board of this Jewelry Extended Fashion Industry Alliance.