Editor’s Note
While Shenzhen is globally renowned for its electronics, the city’s Luohu District hosts a lesser-known marvel: Shuibei, Asia’s largest gold and jewelry market. This bustling hub draws countless buyers and sellers, with a scale so vast that browsing every shop could take a week.
When people think of Shenzhen, electronics often come to mind. However, in the Luohu District’s Shuibei area, there lies another widely known kingdom of gold and jewelry. It boasts Asia’s largest gold market, attracting countless consumers and industry players. The scene of gold and jewelry sales in Shuibei is astonishing. Statistics suggest that if you spent one minute at each store, it would take a whole week to explore the entire market.
The glittering sight on the underground floor of the local landmark, Jinzhan Jewelry Plaza, often leaves first-time visitors in awe. Hong Kong Commercial Daily reporter Chen Yanjie described the experience:
With advancements in gold craftsmanship, the Shuibei market caters to the demands of younger consumers. Innovations such as hard gold techniques, 5D craftsmanship, and color-inlaying technology have made gold jewelry more design-oriented and popular among the youth. Moreover, compared to the expensive prices of branded gold jewelry, Shuibei offers exceptional value for money. Chen Yanjie noted:
Shuibei’s success is no accident. After Shenzhen became a Special Economic Zone, it attracted a large number of Hong Kong jewelry manufacturers to relocate their factories there, including well-known brands like Chow Tai Fook and Chow Tai Seng. In 1989, the Shenzhen municipal government designated the jewelry industry as a pillar industry, fueling the market’s rapid development. Huang Youhua, Vice President of the Luohu Fellowship of the Shenzhen Taiwanese Business Association, stated that the scale of the Shuibei market is staggering, with a street stretching about two to three kilometers and housing over ten thousand merchants. He pointed out:
The Shuibei market also offers reliable consumer protection. Each piece of jewelry comes with an appraisal certificate to ensure quality. Merchants have established testing centers where the authenticity of jewelry can be verified in just 3 to 5 minutes. Vice President Huang added:
He further indicated that the gold prices in the market are cheaper than elsewhere, with a difference of about 50 RMB per gram. Discounts on gemstone products can be as high as 30-40% off. As Asia’s jewelry center, the Shenzhen Shuibei market cuts out many middlemen, making it the best choice for people looking to ‘strike gold’.
