Hong Kong's China Assurance Finance Group Ltd and the Gems and Jewelry Trade Center of the Guangzhou Commodity Exchange have agreed to provide financial support to jewelery merchants. In January, an online platform was officially launched to provide services for the financing of industry, trade, marketing, storage and non-cash settlements.
Chen Guifang, chief executive of Guangzhou Xiyaoyuchi Jewelry, which specializes in the production of white Chinese jade products, said the platform "changes traditional methods of trade and builds a bridge between supply and demand."
Yu Dingchang, Honorary Chairman of the Gems and Jewelry Trade Association of China, said that the industry "needs constant innovation, financial support and new methods of financing."