Core Viewpoint - The jade market in Shifosi Town, Nanyang, Henan, which is one of the largest processing and trading hubs for Hetian jade in China, has become a haven for fraudsters, undermining consumer trust and damaging the industry's reputation [1] Group 1: Market Conditions - The jade and crystal consumption has been rising in recent years, driven by emotional value, aesthetic demand, and high investment and collectible value [1] - However, the prevalence of counterfeit products, including low-quality Qinghai and Han jade being sold as genuine Hetian jade, has created a toxic environment where honest businesses struggle to survive [1] Group 2: Fraud and Consumer Trust - The exposure of a full chain of fraud has shattered consumer confidence, with scripted sales tactics making it difficult for consumers to protect themselves [1] - The industry is facing a vicious cycle where bad practices drive out good ones, leading to a polluted market environment [1] Group 3: Regulatory Challenges - Despite previous exposés, such as the 2022 March 15 Gala revealing issues in the jade market, fraudulent businesses continue to re-emerge under new names, indicating weak regulatory enforcement and low penalties for violations [1] - The intertwining of interests within the industry complicates the enforcement of regulations, allowing fraud to persist [1] Group 4: Industry Outlook - The jade industry must move away from its current murky state towards a clearer, more professional environment to restore its reputation and the trust of consumers [1]