Chinese gold jewellery manufacturers are increasingly turning to India and the Middle East for new business opportunities as their domestic market goes through a sharp period of adjustment, driven by high gold prices and continued precious-metal volatility. The shift was highlighted by the World Gold Council (WGC), which pointed to changing buyer patterns at one of the industry's biggest global trade events as clear evidence of the pivot already underway.
A Sharp Domestic Slump Driving the Shift Abroad
The scale of the pullback in China's home market underlines why manufacturers are looking outward:
Domestic gold jewellery demand weakened sharply, with the WGC citing a slump of around 34%, largely attributed to sustained high gold prices and ongoing market volatility
At the recent Jewellery & Gem WORLD Hong Kong fair, buyers from India and the Middle East accounted for a significant share of total visitors, reflecting rising international interest in Chinese manufacturing capabilities and product innovation
Wang Lixin, China CEO, World Gold Council, said this interest is being fuelled by strong demand for innovative jewellery products alongside advances in Chinese manufacturing technology
What's Attracting International Buyers, and How WGC Is Supporting the Shift
Central to the renewed interest is a new gold product category and a coordinated push by the WGC to connect manufacturers with overseas markets:
One major area of interest is "hard pure gold," a product category using advanced crafting techniques to make jewellery thinner and harder without adding extra weight, a development that has raised India's strategic importance for international manufacturers seeking new sources of demand
The WGC has actively facilitated connections between Chinese manufacturers and overseas buyers, arranging visits by major Middle Eastern wholesalers to Shenzhen to inspect factories and showrooms directly
The WGC has also facilitated visits by leading Indian retailers to global jewellery exhibitions to explore potential collaborations with Chinese manufacturers
Yuehao Jewellery, a Shenzhen-based manufacturer with roots dating back to 1926, has already reported an increase in clients from the Middle East and India, alongside growing interest from Japan and South Korea, according to Sharon Weng, Vice President of Branding and Products
Growing interest from Indian and Middle Eastern buyers is also being linked to rising demand for inlaid jewellery, an area where Chinese manufacturers see further opportunity to expand their international business