Core Insights - A significant incident occurred in the Shenzhen Shuibei jewelry market involving a gold raw material supplier who allegedly absconded, resulting in substantial losses for multiple downstream businesses, with the highest single loss reported at 4 million yuan [2] - The supplier had been operating in the Shuibei market for a long time, engaging in wholesale transactions, but suddenly became unreachable after collecting large payments from several merchants, highlighting the financial risks associated with bulk transactions in the jewelry industry [2] - The Shuibei market, recognized as the largest gold and jewelry distribution center in China, has an annual transaction volume exceeding 100 billion yuan, prompting increased scrutiny on transaction regulations within the industry [2] Industry Response - The Shenzhen Gold and Jewelry Industry Association has issued a risk alert, advising merchants to enhance credit investigations of trading partners and advocating for the establishment of an industry blacklist system [3] - This incident underscores the urgent need for the traditional jewelry industry to improve its modern transaction risk control systems as it undergoes transformation and upgrading [3]