The Luohu district taxation bureau has taken the initiative to contact local gold and jewelry enterprises to get to know about their needs in a bid to help the industry to recover quickly from the impact of the COVID-19 pandemic.

It is taking advantage of the Internet, telephone and WeChat to strengthen publicity on relevant tax policies, while encouraging taxpayers to use its online platform.

The Luohu district is the largest gathering place of gold and jewelry industries in China. It has more than 6,000 jewelry enterprises with annual sales exceeding 100 billion yuan ($15.55 billion) that accounts for about half of that of the country’s gold and jewelry market.

However, there are also some problems within the industry in Luohu, among which product homogeneity is a prominent one.

Meanwhile, the COVID-19 pandemic that is still raging in some countries has also influenced development since last year.

To promote high-quality development and ensure the sector is a growth driver for Shenzhen’s economy, the Shenzhen Jewelry Industry Service Company was founded last year to serve as a platform to provide bonded services for all kinds of jewelry products, and offer comprehensive services. The company is also ensuring better regulation.

A tax clerk surnamed Pu of the company said: “The nationwide tax reduction is bigger than before, the business environment is better, and the tax authorities’ services more accurate and thoughtful. These factors make us more confident.”

Statistics show that, within the first few months of its founding, the company has seen jewelry products worth nearly 20 million yuan being traded on its platform.

It is estimated that the total volume of transaction of jewelry products to be traded on the company’s transaction platform this year will exceed 100 million yuan.

The Luohu taxation bureau said that it would take advantage of local strengths, provide professional and considerate services, and offer comprehensive services ranging from information to trade and logistics to gold and jewelry companies so as to promote quality development of the local economy.