ENG-1978 — Page 74

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The past decade has been a period of spectacular growth for Hong Kong's jewellery industry. This has been matched with improved standards in design and craftsmanship. Hong Kong is now pro- ducing beautifully-designed and superbly crafted jewellery which is keenly competi- tive in world markets. The industry is based not only on a lucrative export market but also on the territory's distinction as a major jewellery centre there is no sales tax or import duty on jewellery bought in Hong Kong. Many jewellery shops exist in Hong Kong where residents and tourists mingle, buying contemporary pieces or having jewellery made to their own speci- fications. Surveys show that tourists spend more money on jewellery than any other item. Hong Kong's main jewellery interest is diamonds. The territory ranks, as the world's third largest diamond trading cen- tre behind the United States and Japan, importing diamonds valued at more than $2,000 million annually and selling more than half locally. Twenty years ago Hong Kong artisans were known for their skill working with jade and gold; today they are adept in the handling of all precious stones and semi-precious materials. Their expertise encompasses any component used in the production of high quality, fashion jewellery sought throughout the world.

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Previous page: The deft hands of an artisan work on a necklace made from diamonds, lapis lazuli and gold. Left A technician examines the clarity and colour of a brilliant- cut diamond; stones are selected for a necklace; a craftsman traces a vase" on a piece of jade.

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