The jewelry industry faces transformation and integrity management is the key

The jewelry industry is facing a transformation "With the global economy shrinking continuously, the jewelry manufacturers' associations and member companies have shared the honor and disgrace to overcome the difficulties. In the past, they only took care of their own business, and now they must pay attention to the industry and their own problems.

All member companies are actively trying to break through the difficult environment. Li Wenjun, chairman of the Panyu Jewelry Manufacturers Association, believes that new jewellery companies should actively open up markets in the domestic and Middle East and Russia.

“At present, the domestic jewellery industry has mainly processed materials and has a high degree of dependence on export-oriented economies. With the continuous shrinkage of the international economy, enterprises with 2,000-3,000 or more businesses have started to become self-reliant because of the reduction in orders. Doing so affects the survival and development of small businesses. With some companies having different degrees of layoffs, small businesses are the hardest hit.”

Panyu is known as China's jewelry city and is a benchmark for the Chinese jewelry industry. Regarding the downturn in the jewellery market, Li Wenjun said: “The Panyu jewellery industry is mainly exporting to Europe, the United States, and Japan. Two years ago, everyone thought that the European and American markets may have shrunk, and those who have visions have begun to favor the domestic market. Export-oriented companies are active in order to reduce business risks. The market in the Middle East and Russia has been explored, and compared with Europe and the United States, the Middle East and Russia have not been affected much, and the market demand is also very large.Jewelry companies should look for ways to change the status quo, in addition to actively visiting customers, understanding demand, but also to enter the outside The market, not just the general jewelry show."

"Panyu is a company's gold and silver jewellery processing base after the reform and opening up. It is known as China's "Vicenza." There are more than 300 jewellery companies, more than 90% of which are exported to the world. Panyu jewelry has a high reputation, but compared with its reputation, its economic contribution to the local government is not large.Since China has some preferential policies in foreign trade, jewelry companies in Panyu have enjoyed a tax-free policy. Therefore, from the point of view of tax payment, Panyu jewelry does not bring much economic benefit to the local government. But for the development of jewelry enterprises, especially in such a difficult time, the government really helped a lot." Li Wenjun said.

In response to the continuous closure of jewelry companies in Panyu in recent years, the local government departments have continuously introduced some new policies on the advice of the chamber of commerce of jewelry manufacturers. Li Wenjun introduced: “For the unprecedented difficulties encountered by the industry, the government and relevant departments have attached great importance. Under the concerted efforts of the chamber of commerce and enterprises, the government reduced the related formal fees charged by more than 10 departments, and formulated and implemented “Supporting the Development of Jewellery Enterprises”. "A number of measures and measures" have given the greatest help to distressed jewellery companies."

Member Baotuan expands the domestic market When the development of the European and American jewelry market encounters a bottleneck, the domestic jewelry industry has caused widespread concern among jewelry manufacturers and the market has seen an increase in sales.

“It should be said that under the current economic situation, it is wise for Panyu jewellery companies to select 'backhaul'. Embarking on the 'backhaul' road can reduce the business risk of companies affected by the international situation, and can also bring local governments with them. The rich economic benefits are conducive to the development of the region. Viewed from the perspective of the state policy, the 'backhaul' is in line with the central government’s recently proposed guiding principle of 'expanding domestic demand and ensuring growth' and has a favorable policy environment.' Li Wenjun thinks 'back' is a jewel. Another good way for businesses nowadays.

Li Wenjun has his own opinion on the jewellery company's "backward" strategy. “Whether it is a Hong Kong jewellery company or a Panyu jewelry company, everyone is optimistic about how to do a good job in domestic business, but it involves taxation, approval and other procedures and issues, and recommends that relevant departments give support. For the progress of domestic sales, some companies have started the transformation and development. Some are starting, but analysis and planning should be done well for the local market and local culture, so that the success rate is very large.Before, the Chamber of Commerce and Drilling Company jointly organized promotion activities in shopping malls in Hangzhou, Nanjing, Shanghai, etc., with good results. The person in charge of shopping malls in the region also visited Panyu and was interested in Panyu jewelry, hoping to promote cooperation."

In addition to policies and development strategies for doing jewelry business in the Mainland, Li Wenjun thinks that the most important issue is the integrity of business. “Being a jewellery business is just as important as other industries. Honest management is very important. Standard production, standardized management, and compliance with laws and regulations make taxpayers law-abiding. In the long run, business is not a time. The quality of products is good. We must ensure that we can not relax at any time. Especially in China, there are many counterfeit traders, and it is not uncommon for them to be well-filled. Therefore, if you want to make a name, don't think of a profit."