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The pearl industry is a characteristic industry in Shaoxing, covering a complete industrial chain including pearl breeding, processing and terminal sales. The products cover pearl raw materials, pearl jewelry, pearl crafts, pearl beauty, health and other derivative products.

Zhuji, a county-level city in Shaoxing, is the largest freshwater pearl processing and trading center in China, with the largest pearl jewelry market in China (China Pearls and Jewellery International City). The city's annual output of freshwater pearls accounted for 73 percent of the world total and 80 percent of the national total output.

In 2018, the city's pearl cultivation output was about 1,000 tons, with an output value of 11.6 billion yuan ($1.65 billion). There were 19 pearl enterprises above designated scale – annual sales revenue surpassing 20 million yuan, with an output value of 1.21 billion yuan.