Revealing the secret: From frenzy to coldness, why is the jade market experiencing such a cold winter?

CCTV Finance (Consumer Proposition): Jade, once very popular, is now deserted. Jade, this crazy stone, is experiencing a thrilling roller coaster ride.

Beijing Wanfeng Jewelry Trading Center is mainly engaged in wholesale. Ms. Wu, who opened a store here, is from Putian, Fujian. She told the "Consumer Claim" reporter that this year is the quietest year for her business in more than ten years. The high-ice jadeite, which originally sold for more than 500,000 yuan, could be sold more than ten or twenty times a year when business was good before. Now it has become a display item on the counter and no one has been interested in it for several months.

With no one coming to purchase goods, and the decline in jade transaction prices, Ms. Wu's business is getting worse day by day. She said that she has not had any new goods for more than half a year, and the warehouse is full of previous stockpiles. It is now difficult to pay the rent, so I had to close the other two stores. Now this store is barely maintaining operation.

The business of the shop next door to Ms. Wu is also slow. The owner, Ms. Liang, said that her shop had never had a daily sales volume of only one or two thousand or even a few hundred yuan before, but this situation happens from time to time now. As business decreased, Ms. Liang cut the number of employees in the store by half. Even so, she could only barely maintain daily expenses.

The person in charge of the marketing department of Wanfeng Jewelry Trading Center told the "Consumer Claim" reporter that the jade transaction amount and transaction volume of the entire mall have been declining in the past year. In the past, the entire building could sell dozens of bracelets or ornaments worth hundreds of thousands of yuan in a month. Now, the entire building can only sell less than a single one.

The Beijing International Jewelry Exchange Center, located on the North Fourth Ring Road, is mainly engaged in retail. Chen Shande, who is in the jade business, said that the continued decline in jade prices and the obvious drop in transactions this year made him feel like he was going through a long winter. Although the prices have been adjusted, there has not been much increase in customer flow.

However, Chen Shande is still very optimistic. As a businessman, he believes that the price of jade is gradually returning to rationality, and the right thing for consumers to do is to buy products that are worth the money.

Jieyang, Guangdong is known as the "Jade Capital of Asia". 90% of the country's mid- and high-end jade products come from Jieyang, and the jade industry is the dominant industry in the area.

Jieyang Qiao Nan International Jade Center is a distribution center for jadeite transactions, but at the moment, almost all the stalls are deserted, and you can see the words "counter sublease" and "busy counter for rent" every few steps. In fact, with the continued downturn in the market, the rental prices of shops in the entire Qiao Nan International Jade Center have plummeted from 6,000 to 7,000 yuan to 1,000 to 2,000 yuan, and no one is willing to rent them.

Lao Gao has been in the jade business for more than 30 years, and his store mainly sells decorative pieces. Lao Gao told us that when the market was booming a few years ago, many people who were not originally in the jade business entered this market, scrambling for supplies and markets, resulting in a "buy high and sell high" situation like passing the parcel by beating the parcel. Now that the bubble has burst, in order to maintain his business, he can only choose to "cut losses" and "give profits." The ornaments that used to sell for more than 1 million now sell for 800,000.

Lao Gao believes that although business is currently depressed, this "reshuffle" is also a good thing for the entire market. Only the capable will survive. In the past, whoever came made money, but now those who can't do it are eliminated, and those who can continue to do it will continue to do so.

Xu Xianren and Liao Hongmin have been engaged in raw stone trading for more than 20 years. Under the current market conditions, raw material dealers like them are in the most embarrassing situation in the entire market. All the stones in Sister Liao's family were bought from Myanmar. Although the domestic jade market is currently sluggish, the price of stones at the Myanmar public auction has not dropped. This year, they bid for stones at the public auction and returned almost empty-handed.

However, they were not sad about not bidding for the stones, because if they bought the stones at a high price, they might not be able to sell them even at a loss when they arrived in China. What Sister Liao is most worried about now is the backlog of stones on hand.

According to statistics, Jieyang handles 80% of the high-end jade raw materials produced in Myanmar. When the market was booming, the annual processing and sales volume of Jieyang jade accounted for more than 85% of the country's mid-to-high-end jade products; the number of employees exceeded 100,000. However, this year, a "reshuffle" in Jieyang's jade industry is quietly approaching.

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