The increase in demand for jewelry with amber in China helped the development of the Lithuanian amber industry. In the Baltic region, where Lithuania is located, the largest amount of amber is produced in the world, Xinhuanet.com reports.
Buyers from China came to the "Amber Trip", an annual exhibition held in Lithuania, Latvia and Estonia on March 18-21. This event is a platform for amber traders from around the world.
According to Giedrius Guntorius, the organizer of the exhibition, about 80% of Lithuanian amber will be exported to China.
Minister of Culture of the country Sarunas Birutis (Sarunas Birutis) said that cooperation between Lithuania and China in the jewelry industry is developing rapidly. "We can trade even in Beijing," he said.

In the company Swarovski announced the launch of its first permanent line of jewelry, which should help the company attract a new category of buyers.
After the initial testing period, the new collection will be widely sold in the US, especially in the shops of independent merchants, as well as in some Swarovski boutiques, National Jeweller reports.
Prices for a new line of jewelry start at $ 125 and end at $ 1,450, it includes both items of sterling silver and 14-carat gold, as well as items with diamonds.
Although Swarovski previously tried to launch its line of jewelry thanks to the capsule collection from Atelier Swarovski, made together with designer Matthew Campbell Laurenza last year, the new jewelry line will be the first to be produced by the company on an ongoing basis.
Swarovski says that since the company was founded in 1895 in the heart of the Alps, water and nature played an important role in creating its style, including being a source of inspiration for the production of its famous crystals.
"Jewelry is a natural continuation of the jewelry of our company.We are talking a new word in the category of jewelry because of the support of our world-famous brand, which ultimately will allow Swarovski to attract a new category of buyers," said Susan Popper, director North American department of jewelry Swarovski.- The new collection of jewelry Swarovski is designed to attract jewelry buyers, but will also serve as a new reason to buy among the vast base of pok sumers of our products. "

Jewelry House premium segment Cartier will hold an exhibition at the Sichuan Museum in Chengdu on April 18, the main theme of which will be the impact of Chinese design on the company's famous jewelry.
Head of the department for heritage and style of Cartier Pierre Rainer (Pierre Rainero) said that within the exhibition "The Making of Art" jewelry house products will coexist with museum exhibits, which will emphasize the echoing cultural motifs of East and West.
Reinero noted that Cartier used elements of Chinese design in its ornaments from the beginning of the 20th century. Among the most famous products made in the Chinese style, appear carved and engraved earrings, pendants and brooches from jade.
"Among the other things of the Chinese collection, there are lacquered ornaments encrusted with large pearls.The color and originality of the jade were very interesting to the designers of the time.Louis Cartier actively bought up ready-made products from this stone, which he found in antique shops of France, and after that used this material in his jewelry, "- concluded Rainero.

In Hengdeli Holdings Ltd, a Chinese company engaged in retail sales of premium-class watches, reported a 25.6 percent increase in revenue in 2014 due to sustainable business performance. In total, the company's revenue was $ 81.18 million compared to $ 64.42 million a year earlier. Turnover grew 10.4% to $ 2.37 billion, while retail sales jumped 6.3% year-on-year to $ 1.7 billion. The higher sales are largely due to strong demand for the average price segment in China.
"As an adherent to a cautious expansion strategy, the company is also looking for an approach to generating sustainable income for the sake of good growth, and the company has succeeded in consolidating the stability of its business and ensuring the interests of its shareholders thanks to excellent financial performance that has been achieved even in difficult market conditions, says Zhang Yuping, chairman and CEO of Hengdeli.
At the same time, the company's retail sales in Hong Kong decreased by 17.7% to $ 417.11 million.
According to Zhang, the company with a restrained optimism looks at its opportunities in 2015. "In the end, we expect that the long-term development of the company will depend on more diverse factors and broader prospects that we will be able to achieve due to better stability of business development in China and further introduction of catalysts for market activity," the top manager said.
At the moment, Hengdeli owns 513 retail stores in China, Hong Kong, Taiwan and Macau, which sells products of more than 50 world-famous brands. In addition, the company cooperates with more than 400 wholesale buyers in 100 largest cities.

Malabar Gold & Diamonds opened a new retail store in the Lulu hypermarket in El Jubail on March 15. The company also held an action in honor of the opening of a new point of sale, in which buyers were given gold coins weighing 1 gram for purchases above SR 5,000. It is already 129 by the account opened by a group of companies around the world, 49 by the account in the Middle East and the eighth by Saudi Arabia.
The brand jewelry of the company is represented in such sets as "Ethnix" (hand-made designer jewelry), "Era" (diamond products), "Mine" (any diamonds), historical ornaments "Divine-Indian", "Precia" with gems) and Starlet (children's jewelry).
Malabar Gold & Diamonds began its international operations in 2008 with the opening of its first store in the city of Sharjah. Today this group of companies owns 51 stores in the Middle and Far East. In the next two months, the company plans to open several new outlets in Saudi Arabia, the UAE, Oman, Qatar and Bahrain due to a significant increase in the number of customers in the region.

Sarine Technologies Ltd, which develops, produces, markets and sells high-tech products for analysis, planning, cutting, measuring and valuing precious stones, held a closed presentation of its latest technology, intended for use by wholesale and retail diamond sellers, called the Sarine Profile.
The Sarine Profile system allows diamond sellers to customize, personalize and fully integrate a detailed visual presentation of the stones into their trading platforms and websites. This system presents the characteristics of the diamond in a visually appealing manner and demonstrates the play of stone light, three optical levels of detailed visualization and video, as well as the level of cutting and simulation of the geometric proportions data about which were obtained with the Axiom family.
Secretary-General of the International Diamond Manufacturers Association (IDMA) Ronnie VanderLinden and Prakash Mehta, President of the Indian Diamond and Colorstone Association (IDCA), spoke warmly of the role that Sarine plays in the trade diamonds in New York, and recognized the value of the company's products for the global diamond industry.
Sarine's CEO Uzi Levami said: "The creation of the Sarine Profile provides a new comprehensive solution for retail and wholesale diamond dealers, and Sarine is proud to be on top again." The company continues to work to strengthen the position of the diamond industry and innovative technological solutions ".

The government of India has decided to reduce customs tariffs for import of gold to $ 375 for 10 grams and for import of silver - up to $ 512 per kilogram after reduction of world prices for these metals, reports the Times of India. In the first two weeks of this month, the tariff was fixed at $ 393 for 10 grams of gold and $ 549 per kilogram of silver.
The amount of the customs tariff is the base amount by which import duties are determined. This is done in order to prevent billing at low prices. Customs tariffs are revised every two weeks, taking into account the world prices for precious metals. The relevant notice on the reduction of these tariffs was announced last week by the Central Commission for Excise and Customs (CBEC).
Gold prices in New York, usually determining pricing trends, declined from $ 1,162 to $ 1158.6 per ounce. The price of silver fell to $ 15.64 per ounce.
In February of this year, gold imports to India increased by 49% to $ 1.98 billion in annual terms, while silver imports decreased by $ 60.47% to $ 121.42 million in the same period.
Gold is the second most important import commodity in India after oil. The higher cost of gold imports directly affects the current trade deficit in the country. The Indian government has repeatedly appealed to the population to refrain from buying gold and instead focus on investments of a different kind.

Auction house Christie's will hold its auction of Magnificent Jewels (Magnificent Jewels) in New York on April 14. For sale will be exhibited more than 300 precious stones, and the flagship of the auction will be an amazing necklace of four strands of natural black sea pearls.
Other lots include a necklace with sapphires and diamonds from Graff, estimated at $ 250-350 thousand, a pair of emerald earrings with white and colored diamonds from JAR, whose value is also $ 250-350 thousand, a sapphire and diamond necklace from Van Cleef & Arpels price of $ 300-500 thousand, as well as a pair of pendants with diamonds 'D' from Harry Winston, whose price, according to experts, will be $ 1.5-2 million.
Christie's International Jewelry division head Rahul Kadakia said: "After a record financial year of 2014, when Christie's jewelry division sold goods worth $ 754.7 million, we are pleased to announce the beginning of the season of jewelry auctions with our special sale of Magnificent gemstones in New York.On the auction, which will be held on April 14, will be presented with diamonds of the highest quality, rare gems and natural pearls, which provide collectors with unique opportunities to purchase e gems instvennyh of its kind. "
According to Christie's experts, within the auction, it will be possible to raise more than $ 40 million.

The Shanghai Gold Exchange (SGE) this year will begin the practice of gold fixing, denominated in RMB, which will be an alternative to the dollar gold fixing in London. Xu Luode, chairman of the Shanghai Gold Exchange, said that the experts of the exchange had already studied the possible pros and cons of the gold fixation expressed in yuan, and by the end of the year they would launch a new price fixing system, when the conditions on the market would lay the foundation for it, .
"The renminbi-denominated gold price will not compete with the existing dollar-denominated metal price, instead it will provide an alternative, it will be another option, so both fixing in RMB and fixing expressed in dollars will cross-refer on each other, "Xu said and added that the new measurement of gold prices in yuan will make these prices more balanced.
World gold prices are determined by the system of gold fixing in London, which has been counting for a hundred years. Recently, this system is under the supervision of the authorities because of the possible manipulation of the market, but soon it will be replaced by a new system of valuing gold with a much larger number of participants. A similar step of SGE will popularize the yuan, which is the currency that is the fifth-largest in the world in terms of calculations and reserves in a number of banks.
The international board of directors of the gold exchange, which is located in Shanghai Pilot Free Trade Zone in Shanghai, has already concluded contracts for approximately 450 tons of gold bars, their amount reached 110 billion yuan, Xu said. In addition, the Chinese government has taken additional steps to liberalize the precious metals market to attract international investors and open up a market linked to the yuan. These measures also include the launch of contracts for the supply of silver for foreign traders, as well as trial trades in gold options.
"The steps taken by the Chinese government to liberalize the precious metals market will be an advantage for such markets around the world, as it will provide opportunities for choices that relate to different spheres of consumption." Whether these measures will be effective depends on the activity of the trade and the number of its participants, "said Albert Cheng, managing director of the World Gold Council (WGC) for the Far East.

Very soon this year, Lao Feng Xiang Co Ltd will open three new stores in Hong Kong, as well as a new branch in Vancouver, Canada. The company also plans to expand the network in the UK and New Zealand, reports chinadaily.com.
In December 2014, Lao Feng Xiang opened a 400 square meter store on Fifth Avenue in New York City.
The company said that the planned revenue of $ 1.6 billion in international stores of this network is quite achievable within five years.
Last year, this large retail chain had 2,800 stores, revenue was $ 5.28 billion in 2013, the company said.
Basically, Lao Feng Xiang Company Limited is engaged in the manufacture and sale of jewelry in both the domestic and international markets.