ICA, CCPIT to Promote Colored Gems in China

The International Colored Gemstone Association and the China Council for the Promotion of International Trade Panyu Branch have signed a Memorandum of Understanding during a visit by an ICA delegation to Panyu, Guangzhou, during the Hong Kong Jewellery & Watch Fair.

The signing of the MOU coincides with the CCPIT’s initiative announcing 2008 as the “Thematic Year of Colored Stone Promotion.”

“ICA, as an industry authority, has always taken the lead in the promotion and dissemination of information regarding colored gemstones,” said CCPIT’s chairman, Li Zhi-wei, a member of the Chinese delegation. “With this capacity to converge industry information and resources globally from gemstone miners, manufacturers, and dealers around the world, ICA is efficiently facilitating the rapid development of the colored stone industry by strengthening international cooperation, multi-directionally and laying a solid foundation for sustainable growth”.

He indicated that the CCPIT is already planning to continue the Year of Colored Gemstone Promotion in 2009 as they expect great success with it, especially in light of ICA’s commitment to participate.

Panyu is located on the southeastern part of Guangzhou in China at the center of the circle formed by Guangzhou, Hong Kong and Macau and is the district with the strongest economic growth playing a vital role in Guangzhou’s master plan for economic development known as “Southward Expansion”. Panyu hosts over 300 jewelry manufacturing companies with craftsmanship skills comparable to any major manufacturing center in the world. According to government statistics, jewelry exports out of Hong Kong in 2006 amounted to $5.49 billion dollars, of which $1.16 billion dollars of jewelry was manufactured in Panyu.