Core Viewpoint - The transformation of "Pearl Women" in Wannian County into online influencers has revitalized the local pearl industry and contributed to rural revitalization efforts. Group 1: Industry Development - The pearl farming industry in Wannian County began in the early 1970s, with nearly every household involved in pearl cultivation [1] - By the 1990s, the pearl industry flourished, with women primarily engaged in the labor-intensive processes of pearl cultivation [1] Group 2: Online Sales and Marketing - With the support of the local Women's Federation, "Pearl Women" transitioned to online sales, leading to a significant increase in demand for pearl products [2] - The live streaming model has proven effective, with individual sales during a two-hour session exceeding 20,000 yuan [2] - The local Women's Federation has facilitated connections with businesses and promoted pearl products through the "Cloud Small Shop" platform, projecting a 20% increase in sales for the first half of 2025 compared to the same period in 2024 [2] Group 3: Training and Community Building - The Women's Federation has organized 12 specialized training sessions on e-commerce for pearls and established a women's union for online influencers, attracting nearly 80 participants [3] - The training includes topics such as product photography and live streaming techniques, aimed at nurturing local influencers and expanding market reach [5]

Core Insights - Jingrun Pearl has successfully implemented a combination of "two-step declaration" and "processing value-added domestic sales duty exemption" policies, becoming the first company in Haikou to benefit from this policy synergy [1][2] - The implementation of these policies has significantly improved the company's customs clearance efficiency and reduced operational costs, providing a replicable model for the application of Hainan Free Trade Port policies in the non-standard product industry [1] Group 1: Policy Implementation and Benefits - Jingrun Pearl has been granted the status of a pilot beneficiary for processing value-added duty exemption since November 30, 2024, and has imported raw materials in 15 batches, with domestic sales valued at 14.49 million yuan and a benefit amount of approximately 1.5 million yuan [1] - The "two-step declaration" process has halved the time required for customs clearance, reducing the procurement cycle from over two weeks to within one week [1][2] - The combination of the two policies has led to a 14.7% reduction in overall costs for the company, enhancing both customs convenience and duty exemptions in domestic sales [2] Group 2: Government Support and Policy Facilitation - The Haikou Municipal Government, particularly the Longhua District Science and Technology Bureau and the Yecheng Customs, has actively collaborated to provide comprehensive policy guidance to the company [3] - A service model involving "precise communication, full-process guidance, collaborative problem-solving, and follow-up implementation" has been established to help companies understand policy details and accelerate the release of policy benefits [3] - The establishment of a special approval team by customs, along with "non-face-to-face approval" methods, ensures that companies can complete necessary processes while balancing regulation and service [3]

Overview - The jewelry industry in China has seen a steady increase in demand due to rising consumer purchasing power and a shift in consumer preferences towards quality, brand, and cultural significance [1][11] - In 2023, the market size of China's jewelry industry reached 820 billion yuan, a year-on-year growth of 14.05%. However, in 2024, the market is expected to shrink to 778.8 billion yuan due to macroeconomic slowdown and decreased consumer confidence [1][11] Market Size - The market size breakdown for 2024 includes: - Gold products: approximately 568.8 billion yuan (73.0%) - Diamond products: approximately 43 billion yuan (5.5%) - Jade products: approximately 98 billion yuan (12.6%) - Colored gemstones: approximately 27 billion yuan (over 3.5%) - Pearl products: approximately 21 billion yuan (nearly 2.7%) - Platinum and silver products: approximately 8 billion yuan (1.0%) - Fashion jewelry and other categories: approximately 13 billion yuan (1.7%) [1][11] Industry Chain - The upstream of the jewelry industry includes suppliers of raw materials such as gold, diamonds, jade, colored gemstones, pearls, platinum, and silver, as well as suppliers of processing equipment [4] - The midstream involves design, research and development, and manufacturing processes [4] - The downstream consists of sales channels including jewelry specialty stores, department stores, and e-commerce platforms [4][6] Sales Channels - Offline channels, including jewelry specialty stores and department stores, remain the most important sales channels in China, accounting for over 80% of the market share due to the preference for in-person shopping experiences for high-value items [6] Economic Context - In 2024, China's GDP is projected to reach 13.49 trillion yuan, growing by 5.0%. However, both GDP growth and per capita disposable income growth are expected to decline compared to previous years [8] - Retail sales of gold and silver jewelry are projected to decline by 3.1% in 2024, reflecting the sensitivity of non-essential goods to economic fluctuations [8] Competitive Landscape - The jewelry industry in China is highly competitive, with major players including China Gold, Lao Feng Xiang, Yu Garden, and others. In 2024, China Gold is expected to lead with total revenue of 60.46 billion yuan [13][15] - Lao Feng Xiang is projected to have total revenue of 56.79 billion yuan, with jewelry sales contributing 82.6% of its total revenue [17] Development Trends - The jewelry market is expected to see a polarization in consumer spending, with high-end jewelry appealing to high-net-worth individuals, while the mass market focuses on cost-effectiveness and trendy, affordable options [19] - Increasingly, Chinese jewelry companies are integrating cultural elements into their branding, promoting a shift towards a brand economy [19]

Group 1: Hainan Free Trade Port Development - Hainan Free Trade Port is a significant national strategy personally planned and promoted by President Xi Jinping, aiming to create a world-influential free trade port and a model for China's reform and opening-up [1][2] - The province aims for an annual growth of over 20% in goods and service trade, with steady increases in actual foreign investment [1][2] - The policy of processing and value-added domestic sales without tariffs has been implemented across Hainan, benefiting local enterprises like Jingrun Pearl Company [2][3] Group 2: Business Growth and Investment - Jingrun Pearl Company has expanded its operations significantly, with plans to increase imports of South Sea pearls from 2,000 to 30,000 by year-end, potentially saving over 2.5 million yuan in tariffs [2][3] - Charoen Pokphand Group has invested heavily in Hainan, with projects like a new coffee processing line and a cultural park, reflecting confidence in the Chinese market [4][5] - The number of new foreign enterprises in Hainan has exceeded 2,000 in 2024, marking a 20% year-on-year increase, with significant investment commitments made during the global industry investment conference [7] Group 3: Cross-Border E-commerce and Data Management - The establishment of a cross-border data information industry park in Hainan has facilitated rapid growth in e-commerce, with companies reporting significant revenue increases [8][9] - New policies supporting data security and orderly flow have been implemented, allowing businesses to connect with international markets more effectively [10] - Companies like Dun & Bradstreet have leveraged Hainan's data management policies to enhance supply chain connectivity and transparency in international trade [10]