Over the years, the Thai government has turned to pay more attention to the policy of economic promotion between Thailand and China since 2014, especially the policy of promoting the economy and international exports in real estate and natural resources such as gold, oil and gemstones.
Jewellery and gold with new hope to save the economic crisis in China
Natural minerals are not only a variable to stimulate the economy within China that helps to save the sluggish state from the real estate crisis, but also becomes one of the important mechanisms that the Thai government hopes to help strengthen the relationship between the two governments.
Some scholars predict from statistics that The growth trend of the Chinese economy will be in a variable direction with the growth of the world gold economy from being the most gold user in the world. Therefore, China has turned to focus on domestic people with more demand for jewellery and gold. These policies stimulate investors to return to focus on trading in the gold industry and the Chinese market more than ever turned away during the Covid-19 situation.
With efforts to stimulate the Chinese government's gold and gem jewellery economy, the total value of the gold and gemstone market tends to increase since 2021, about 15 percent per year. It is also reflected through the expansion of diamond production factories and gold jewellery brands in various provinces of China, such as Guangdong, Beijing, Shanghai.
Not only foreign investors, but the Thai government also received direct benefits from the policy and intention to push the economy through these gold of the Chinese government to stimulate the gem and gold economy in their own country. Considered from the statistics of the export value of Thai gems and jewellery to China, rubies, sapphires and emeralds, increased by 17.67 percent. On the other hand, the import value of Chinese gemstones and jewellery to Thailand also jumped equally. Especially the import of artificial jewellery and silver jewellery, increased by up to 181.40 percent
At present, the diamond and gem jewellery business brand turned to use various raw materials in the production process from the Chinese industry more due to the cheap price. There are a variety of options and easy to transport to Thailand compared to foreign transportation into Thailand, both distance restrictions. Transport period And tax wall restrictions
China prepares to open arms to a new group of foreign investors in Asia.
One policy that has an important effect on the investment of Thai investors in the jewellery and gem industry in the Chinese market is the exemption of tax on diamond and gold raw materials in the event that Thailand exports to sell in the Chinese market. Such policies make the source of diamonds and gems. Especially like gemstone traders turn to export to the Chinese market more than before
These things make the market group and customer groups of gemstone traders in Thailand change by focussing on more foreign customers. At the same time, the Chinese government will continue to benefit from providing gemstone traders to join the jewellery industry of Chinese investors in the rapidly expanding country.
Due to the increasing demand of customers for gold jewellery, diamonds and coloured gemstones, China is still struggling to procure raw materials for production due to natural resource problems and geographical limitations.
Causing the Chinese jewellery and gem market to become a country that has a significant effect on the form of business and the survival of the jewellery brand business Especially silver jewellery and artificial diamonds in Thailand
The next thought is the debate about the value and advantage-disadvantage of the Thai state to make an agreement with the Chinese government in the policy of promoting the economy of gold and gems in the jewellery industry as a trading partner. Thailand has benefitted economic benefits that are worthwhile to cooperate in exporting raw materials to China or as a source of gold, gemstones and gems to China as a dependent, even though there is still a status as an economic competitor at the same time?
In addition, how much will Thailand be affected? If in the future, the jewellery industry market needs to rely on the Chinese market to find customers or the market to support this and tend to be higher in the future. And how the Thai government is prepared for the impact? To continue to allow Thailand to have an area to show economic capabilities by itself without relying on economic powers like China like today
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