SHANGHAI, March 31 (Xinhua) -- Shanghai plans to establish an international jewelry fashion hub in Huangpu District, aiming to develop a dynamic center for gold and jewelry trade, design, consumption, innovation and professional services.

Relevant policy was released by Shanghai municipal government on Monday.

Shanghai has three national-level trading markets for gold, diamonds, and gems & jade. In 2024, the city's major retailers recorded over 36.6 billion yuan (about 5.09 billion U.S. dollars) in gold and jewelry sales, accounting for 11.1 percent of the national total.

Huangpu District is a traditional hub for Shanghai's jewelry industry. Leveraging Huangpu's well-developed gold and jewelry industry chain, this initiative aims to create a new pattern of the industry, stimulate consumption and promote high-quality development of local gold and jewelry industry.■