国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

chinadaily.com.cn
left corner left corner
China Daily Website

Stone bubble bursts as hot money ebbs away

Updated: 2012-08-13 10:17
By Guo Anfei and Li Yingqing in Kunming ( China Daily)

Stone bubble bursts as hot money ebbs away

Stone bubble bursts as hot money ebbs away

In the Kunming Jade and Jewelry Mall, crowds of people used to haggle loudly over jade bracelets, necklaces, rings, and ornaments. But now the hustle is gone.

The jade bubble in Southwest China's Yunnan province is bursting after more than a decade as hot money is withdrawing.

According to traditional Chinese culture, jade brings happiness and luck to its owners and keeps evil away.

Li Jinsuo, a jade shop owner who has been running his business in the mall for 12 years, said his sales volume dropped at least 30 percent this year compared to last year.

Stone bubble bursts as hot money ebbs away
Stone bubble bursts as hot money ebbs away

Over the past decade, Li's jade accessories and ornaments sold very well and he was often out of stock for some products. But starting from the beginning of the year, the prices of low- and middle-grade jade products dropped 20 to 30 percent, although the prices of high-grade jade remain steady.

"The current lackluster jade market is a reflection of the slowing Chinese economic growth and the world's as well", said Li Lianju, deputy director of the department of land and resources of the Yunnan provincial government.

"It's normal that the jade market is starting to adjust and becoming rational after a frenzy that lasted years", he added.

"Starting in 2005, jade prices soared. Emerald prices increased almost five times from 2005 to 2011. The trade volume for jade in Yunnan has jumped from less than 20 billion yuan ($3.17 billion) in 2005 to over 30 billion yuan in 2011," Li Lianju said.

The price surge attracted hot money from across the country. Yunnan's jade market accounts for 70 percent of the country's total and is considered a bellwether.

"A top-class emerald bracelet cost 100,000 yuan in 2005, but the price soared to 500,000 yuan in 2010. You can imagine how huge the bubble is", Li Lianju said.

Many buyers and collectors believe that jade is unique, according to the Chinese saying "gold can have a price but not jade, collect jade instead of gold".

Li Lianju believes that prices will decrease about 10 percent a year in the coming three years.

Contact the writers at guoanfei@chinadaily.com.cn and liyingqing@chinadaily.com.cn

 

Chinese jade market reflecting the economic growth

Caught up in the jade craze
Jade too expensive following price surge
Water-color jade a new option for investors
Xinjiang's jade business off-limits to officials
Xinjiang promotes jade festival
$108m green jade pieces displayed

...

...
...
常德市| 易门县| 尼木县| 大埔区| 礼泉县| 永川市| 枣阳市| 侯马市| 绥德县| 龙南县| 运城市| 垫江县| 全椒县| 伊宁市| 鹿邑县| 五峰| 娄底市| 连云港市| 康平县| 绥江县| 丽水市| 鄂温| 孝感市| 陵川县| 大埔县| 凌海市| 卓尼县| 菏泽市| 富蕴县| 平潭县| 榕江县| 稷山县| 新乡市| 会东县| 石柱| 马鞍山市| 九寨沟县| 呼伦贝尔市| 杨浦区| 岳阳县| 六盘水市|