Shops close as jade prices drop by 70pc in Kachin State

Demand has fallen after a Chinese government crackdown on traders who bought value-added jade without paying tax, said U Z Lum, chair of the Myanmar Gems and Jewellery Entrepreneurs’ Association in Myitkyina, the capital of Kachin State. “Chinese buyers have to pay high taxes in China if they buy our value-added products. This has had […]