Retail in Asia

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Kingold Jewelry entered booming TV home shopping in China

Kingold Jewelry Inc, one of China’s leading manufacturers and designers of high quality 24-karat gold jewellery, ornaments and investment-oriented products, on Thursday announced that it has entered into a definitive agreement with Shanghai Oriental CJ Company for selling investment-oriented products, such as gold bar, on Shanghai Oriental CJ’s TV shopping channel.

Shanghai Oriental CJ Company is a joint venture between Shanghai Media Group and South Korea’s CJ Home Shopping Company operates one of the first, largest and most influential TV home shopping channels in China. The channel broadcasts 24 hours a day, and seven days a week. It has reached over CNY5 billion (about USD793 million) in sales in 2010 by offering a wide range of consumer products to Chinese consumers, particularly the most affluent population in coastal area and Southeastern China.

Under the terms of the agreement, Kingold Jewelry will start selling its investment-oriented products, such as gold bars and coins on Oriental CJ channel and Oriental CJ’s B2C online platform in the first half of 2012.