Shanghai has taken a significant step towards reshaping the future of the jewelry and fashion industry with the inauguration of the Shanghai International Jewelry Fashion Functional Zone in Huangpu district.

The official unveiling took place on May 16 at Fosun Foundation Shanghai, drawing an audience of government officials, industry leaders, and representatives from academic institutions. Among key figures present was Liu Ping, the deputy secretary-general of the Shanghai Municipal People's Government, who underscored Shanghai's pivotal role as China's premier consumption market for gold and jewelry.

"Shanghai's immense consumption potential and innovative consumption scenarios have positioned it as the preferred destination for global brands seeking to enter the Chinese market," Liu said, emphasizing the city's allure for international players in the industry.

Gaetano Cavalieri, president of the World Jewelry Confederation, shared insights on the transformative potential of the functional zone, highlighting the initiative's potential to drive economic growth locally and globally.

The unveiling of a comprehensive three-year development plan outlined 24 strategic tasks across six key categories, ranging from the concentration of jewelry fashion resources to the incubation of brands and designers, underscoring a holistic approach to nurturing talent and fostering creativity within the industry.

Themed exhibitions, high-level brand showcases, and tailored support for brand launches are among the strategies envisioned for the functional zone. Shanghai aims to attract domestic and international jewelry and fashion brands, facilitating the establishment of pop-up stores, flagship outlets, and immersive brand experiences to enhance the sector's vibrancy.

In a bid to cultivate emerging talent, the functional zone will collaborate with research institutes, professional organizations and universities to provide a nurturing environment for designers and artists. Additionally, the municipal government has launched a dedicated financial support plan to bolster the execution of the three-year roadmap, offering incentives for industrial organizations and design studios to thrive.

The event also marked the commencement of the 2025 Diamond and Gems Cultural Festival, featuring activities across multiple districts, including exhibitions, promotional sales events, brand debuts and professional services. Leading gold and jewelry brands like Lao Feng Xiang and Lao Miao Jewelry will entice visitors with special discounts and limited-time offers.

Gu Yingjie contributed to this story.