ICA to set up gem, jewel center in Changsha, China
HONG KONG, July 15, 2012 – The International Colored Gemstone Association (ICA) has signed a Letter of Intention with the government of the Chinese province of Hunan to establish a national manufacturing and training center for colored gemstones and jewelry in the province’s capital, Changsha.
A top-level ICA delegation signed the agreement for the joint venture project that will also provide for the promotion of colored gemstones, jewelry and minerals throughout China.
ICA President Wilson Yuen also signed an agreement for the joint organization of the ICA’s annual Congress in 2013 to be held in Hunan.
The Letter of Intention was signed by the ICA and Gemfields plc with the Changsha National Economic and technical Development Zone.
“This is an extremely significant breakthrough for the ICA and the colored gemstone and jewelry industry,” said Mr. Yuen.
“The Chinese authorities are very keen to see the establishment of a colored gemstone and jewelry center in the country, and the government of Hunan province has agreed to put in place ambitious plans that will see this happen in the near future.
“The government of Hunan has been very forward-looking in recognizing the growth of the colored gemstone sector, and the increasing popularity of jewelry set with precious gems in China, and throughout Asia.”
Mr. Yuen added, “Chinese jewelry buyers are showing a strong preference for items set with colored gemstones, recognizing the versatility they provide from a fashion viewpoint, and this joint venture will create a large manufacturing base.
“The gemstone center in Changsha will give them a direct connection with local manufacturers looking for a supply of a wide range of gemstones.”
The International Colored Gemstone Association (ICA), a non-profit organization, is the only worldwide body specifically created to benefit the global colored gemstone industry.
ICA was founded in 1984 and is now comprised of almost 700 gemstone dealers, cutters, and miners from 47 countries who are devoted to advancing and promoting the knowledge and appreciation of colored gemstones and jewelry.