New Pearl Center to Serve as Wholesale Marketplace

Plans to unveil perhaps the world’s largest pearl and jewelry trade center were announced at a press conference during the 2007 BaselWorld. A newly constructed 1.5 million– square–meter campus housing wholesale and retail shops, apartments, hotels, offices, exhibition space, and other professional services that relate to pearl culturing and production is in the works in Zhuji City, Zhejiang, People’s Republic of China. The name of the site is China Pearls and Jewellery City. Phase 1 of CP&J City—a trade center comprising 160,000 square meters and 2,400 shops—is slated for completion by the end of 2007.

The goal of the venture is to serve the world market (not just local businesses) through a large-scale and comprehensive platform for pearls and pearl jewelry. CP&J City is located in a region that’s responsible for most of China’s freshwater pearl production, according to CP&J City research.

The project is the brainchild and property of seven Chinese companies—Dexing Pearl Co. Ltd., Grace Pearl Jewellery Co. Ltd., Man Sang Jewellery Co., Zhejiang Ruan’s Pearl Holdings Co. Ltd., Zhejiang Sanshui Jewellery Co. Ltd., Zhejiang Shanxiahu Pearl Co. Ltd., and Zhejiang Tears of Angel Jewellery Co. Ltd.

The owners say China’s entry into the World Trade Organization will facilitate business transactions. They also note that export duties on pearls, gemstones, and jewelry are waived in mainland China for firms that are certified exporters.

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