International News
Cash transaction curbs hit Hong Kong diamond trade, impacting its competitiveness.
Cash transaction curbs hit Hong Kong diamond trade, impacting its competitiveness.
Hong Kong’s jewellery trade shows, historically significant hubs for diamond and gemstone transactions, are undergoing a period of significant transformation. Recent regulatory changes, particularly the elimination of cash transactions for diamond dealers, have fundamentally altered the market dynamics. This analysis examines the impact of these changes, the resulting challenges, and potential future implications for the industry.
Hong Kong has long been a vital center for the global jewellery trade, renowned for its strategic location, established infrastructure, and vibrant trade shows. Historically, the city’s appeal lay in its status as a cash market, facilitating swift and discreet transactions, particularly in diamonds.
Hong Kong’s position as a prominent cash market has been compromised, impacting its competitiveness. This has caused a decrease in some of the revenue that was historically generated at the trade shows. Compounding the challenges posed by regulatory changes is the simultaneous decline in Chinese diamond demand.
The implementation of regulations prohibiting cash transactions for diamond dealers two years ago has significantly disrupted the traditional trading practices. This change has eliminated a key attraction for dealers who relied on the anonymity and speed of cash transactions. This regulatory change was likely implemented to increase transparency, prevent money laundering, and adhere to international financial standards.
Exhibitors are now required to display regulatory certifications, indicating a heightened focus on compliance. The presence of Hong Kong’s Customs and Excise Department representatives at trade shows underscores the government’s commitment to enforcing cash rules. This has increased the level of trust in the market, for legitimate businesses.
Hong Kong’s jewellery trade shows are navigating a period of significant change driven by regulatory adjustments and evolving market dynamics. While the elimination of cash transactions has posed challenges, it also presents an opportunity to strengthen the industry’s integrity and long-term sustainability. By embracing digital innovation, diversifying market focus, and maintaining a strong regulatory framework, Hong Kong can solidify its position as a leading global jewellery trading hub.
• Increased Compliance and Transparency
• Decline in Cash Market Status
• Weakened Chinese Diamond Demand
This external factor further exacerbates the difficulties faced by the Hong Kong jewellery trade.
Challenges and Implications:
• Reduced Transactional Volume:
The elimination of cash transactions may have led to a decrease in the overall volume of transactions at trade shows, as some dealers may have shifted to alternative markets.
• Shift in Market Dynamics:
The industry is adapting to a new era of transparency and compliance, requiring adjustments in business practices and strategies.
• Competitive Pressure:
Hong Kong faces increased competitive pressure from other jewellery trading hubs that may offer more flexible transaction options.
Impact on Small and Medium-Sized Enterprises (SMEs):
Smaller businesses that relied on cash transactions may be disproportionately affected by the regulatory changes.
Need for Digital Adaptation:
The industry must embrace digital transaction methods and technologies to remain competitive.
Potential Future Strategies
Enhancing Digital Infrastructure:
Investing in secure and efficient digital payment systems to facilitate seamless transactions.
Diversifying Market Focus:
Exploring new markets and diversifying product offerings to mitigate the impact of declining Chinese demand.
Strengthening Regulatory Framework:
Maintaining a strong and transparent regulatory framework to build trust and attract reputable businesses.
Promoting Hong Kong’s Strengths:
Highlighting Hong Kong’s strengths, such as its established infrastructure, skilled workforce, and strategic location, to attract international buyers.
Focus on high end goods:
Hong Kong could focus on becoming the high end market for very expensive and rare stones, where the added security and regulations are a positive.
International News
Vicenzaoro September 2026 Closes With Stronger International Footprint
The Five-Day Trade Show Recorded A 4% Increase In Total Visitors Compared With The September 2025 Edition, While International Attendance Rose By 9%.
Vicenzaoro September 2026 concluded on 8 September with further growth in visitor traffic and international participation, reinforcing its position as a key global meeting point for the jewellery, gemstones, precious metals and technology industries. Organised by Italian Exhibition Group (IEG), the five-day trade show recorded a 4% increase in total visitors compared with the September 2025 edition, while international attendance rose by 9%.
The edition marked the first major presentation of the expanded Vicenza Expo Centre following the opening of the new Hall 2. The upgraded infrastructure, combined with the show’s Boutique Show format, brought the jewellery supply chain together under one roof—from manufacturing technologies and machinery at T.Gold to finished jewellery, gemstones, packaging and related services.
International attendance reaches new markets
Vicenzaoro attracted visitors from 136 foreign countries, a 4% increase compared with September 2025. Attendance from Europe grew by 9%, while non-European participation also rose by 9%, reaching 91 countries. Visitors from the United States increased by 2%.
The largest international visitor groups came from:
- The United Kingdom.
- Germany.
- China.
- India.
- Romania.
- Switzerland.
- Spain.
- Denmark.
- Colombia.
- Belgium.
The strongest growth in visitor numbers was recorded from South Korea, Singapore, Kuwait, South Africa, Finland, Norway, Denmark, Indonesia, Cyprus and Saudi Arabia.
India’s presence among the top five international visitor markets underlines the importance of the country to Vicenzaoro’s global strategy and reflects the continued strength of business links between Italian manufacturers and the Indian jewellery trade.
“This growth confirms the work carried out during the transitional editions when construction of the new Hall 2 was underway,” said Matteo Farsura, head of IEG’s Jewellery & Fashion division. He noted that international attendance has risen steadily since September 2024 and, boosted by T.Gold, is now 12% higher despite an increasingly complex global environment.
MAECI and ICE programme delivers 910 buyers
The show’s international business programme, organised in collaboration with Italy’s Ministry of Foreign Affairs and International Cooperation (MAECI) and the Italian Trade Agency, brought 700 hosted international buyers to Vicenza. A further 210 Italian buyers participated, taking the total number of hosted trade visitors to a record 910.
The buyers represented 73 countries and were reported to be 33% higher in number than at the September 2025 edition.
Farsura said the programme was designed not only to increase visitor numbers but also to identify buyers according to the profiles of exhibiting companies and the markets they serve. The network of approximately 70 Italian Trade Agency offices worldwide played a significant role in supporting the initiative.
New Hall 2 reshapes the exhibition
The opening of Hall 2 represented a significant milestone in IEG’s development of the Vicenza Expo Centre. The two-storey facility covers approximately 23,000 square metres and connects Halls 1, 3, 4 and 6, improving movement across the exhibition complex and creating a more integrated environment for exhibitors and visitors.
The expanded layout hosted 1,300 exhibiting brands from 40 countries, with international exhibitors accounting for 45% of the total. T.Gold, the specialised exhibition dedicated to jewellery manufacturing technologies and machinery, was brought inside the Expo Centre for the first time, strengthening the show’s ability to present the complete value chain in a single location.
In a period marked by uncertain demand, margin pressure and changing consumer expectations, the format enabled Vicenzaoro to combine commercial activity with a focus on innovation, production efficiency and future market trends.
CIBJO centenary adds global relevance
A major feature of the September edition was the centenary congress of CIBJO, the World Jewellery Confederation. Led by President Gaetano Cavalieri, CIBJO brings together the international jewellery industry around standards, nomenclature, responsible business practices and consumer confidence.
Held in Vicenza to mark the organisation’s 100th anniversary, the congress attracted more than 600 delegates, including representatives of luxury groups, mining companies, retailers, laboratories and other parts of the global supply chain.
The congress addressed several of the industry’s most pressing issues, including sustainability, market transparency, the classification of natural and laboratory-grown diamonds and coloured stones, and the need to strengthen consumer trust. Its presence further positioned Vicenzaoro as a forum where businesses, associations and institutions can discuss the structural changes shaping the jewellery sector.
Networking remains central to the show
Beyond its exhibition and sourcing functions, Vicenzaoro continued to emphasise the value of professional relationships. The event provided a platform for companies, buyers, institutions, associations and international industry leaders to exchange views and develop new commercial connections.
This networking-led approach has become one of the show’s defining characteristics, allowing business discussions to extend beyond individual transactions to wider conversations on market development, technology, distribution and consumer behaviour.
The September edition also featured the ninth edition of VO Vintage, which brought together 53 selected exhibitors specialising in vintage and modern jewellery and watches. The event, open to the general public, combined sales with an educational programme featuring expert speakers and initiatives aimed at strengthening interest in watchmaking culture.
Broad industry support
Vicenzaoro’s strategic partners include MAECI and the Italian Trade Agency. Its international partners are CIBJO, GJEPC India, the Hong Kong Jewellery & Jade Manufacturers Association and Francéclat.
National partners include Confindustria Federorafi, Confcommercio Federpreziosi, Confartigianato Orafi, CNA Orafi, Club degli Orafi Italia, Confimi Industria’s Gold and Silver Category, Assogemme, Assocoral and AFEMO. The regions of Sicily and Campania also participated as institutional representatives.
IEG’s jewellery calendar will continue with JGTD—Jewellery, Gems and Technology in Dubai—from 27 to 29 October 2026. Italy’s jewellery industry will meet next at the Valenza Gem Forum on 22 October and the Italian Jewellery Summit in Arezzo on 3 December.
The next edition of Vicenzaoro and T.Gold will take place from 15 to 19 January 2027, while VO Vintage is scheduled for 15 to 18 January 2027.
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