Industry Observation: In 2024, the global jade and jewelry industry is accelerating its recovery from the shadow of the pandemic, with various exhibitions and industry events serving as crucial platforms for connecting supply and demand and discerning market trends. From the Hong Kong International Jewellery Show early in the year to the professional exhibitions in Beijing and Shanghai mid-year, and the upcoming International Jade Culture Festival at year-end, a series of events not only demonstrate the industry's vitality but also foreshadow new trends in future development.
This March, the “Hong Kong International Jewellery Show” and the “Hong Kong International Diamond, Gem & Pearl Show,” grandly held at the Hong Kong Convention and Exhibition Centre, undoubtedly provided a strong boost to the industry's recovery. According to the organizer, the Hong Kong Trade Development Council (HKTDC), the two shows combined attracted nearly 4,000 exhibitors from 44 countries and regions and hosted over 70,000 buyers. Notably, the number of mainland Chinese buyers increased by 35% year-on-year, reaching almost 15,000. During the exhibition, transaction volumes for high-quality jade such as jadeite and Hetian jade saw significant growth, particularly for Burmese old-pit glass-type jadeite bangles, with several pieces fetching over tens of millions of RMB. As observed by Professor Li Ming, a senior jade appraiser: “At this exhibition, younger generation designers demonstrated more diversified and fashionable applications of jade materials, indicating a gradual expansion of the jade consumer base.”
Entering the second quarter, the domestic market also reported good news. The “China International Jewellery Fair,” held in May at the Shanghai World Expo Exhibition & Convention Center, gathered over 500 jade and jewelry enterprises from across the country. The Xinjiang Hetian Jade exhibition area became a focal point, with numerous high-quality raw seed materials and intricately carved pieces attracting a large number of collectors and investors. According to the exhibition organizing committee, the transaction volume for Hetian jade during this fair reached approximately RMB 320 million, an 18% increase year-on-year. The “Tianfu Jewellery Culture Festival” in Chengdu, Sichuan, focused on local specialty jade, such as Nanhong agate and Liangshan jadeite, with its transaction volume also reaching a historic high of approximately RMB 150 million.
It is worth noting that the integrated online-offline exhibition model is becoming the new normal. Many exhibitions not only offer physical booths but also simultaneously launch live streaming, VR showrooms, and B2B matching services. For example, at the “China International Jewellery Fair,” transactions facilitated through live-streaming sales accounted for about 15% of the total transaction volume. Ms. Wang Li, a senior jewelry industry analyst, pointed out: “The application of digital technology has greatly expanded the reach and influence of exhibitions, especially for overseas buyers and clients unable to attend in person due to the pandemic. Online channels provide a convenient and efficient purchasing experience.”
From a market trend perspective, customized and personalized demands are increasingly prominent. Consumers are no longer satisfied with traditional styles but prefer jade jewelry with unique designs, cultural connotations, and storytelling. For instance, jade pendants and bracelets featuring zodiac signs, traditional patterns, or personalized engravings were highly sought after at the exhibitions. Environmental protection and sustainable development concepts are also gradually permeating the jade and jewelry industry, with some exhibitors starting to promote responsibly sourced and traceable jade products to meet the growing ethical consumer demand.
Looking ahead to the second half of the year, the “International Jade Culture Festival” to be held in Guangzhou in November is highly anticipated. It is expected to attract over 600 exhibitors and host multiple jade culture forums and master artwork appraisal events. High-quality raw stones and finished products from major jade producing regions such as Myanmar, Afghanistan, and Russia will be showcased, which is expected to once again ignite a wave of jade collection and investment.
In summary, the 2024 jade and jewelry exhibitions and industry events are not only a direct reflection of post-pandemic market vitality but also a microcosm of industry innovation, development, and trend evolution. Through these platforms, we witness the fusion of tradition and modernity, the collision of technology and art, and the flourishing future of the global jade and jewelry market.