Beijing-based Caibai jewelry store has come under fire for launching a special division to sell jewelry made of red coral. The company's move has been criticized for posing a threat to an endangered species. (Photo source: China Economic Net)
(ECNS) -- Beijing-based Caibai jewelry store, one of best-known gold retailers in the city, has come under fire for launching a special division to sell jewelry made of red coral.
The company's move has been criticized for posing a threat to an endangered species, China Economic Net (CE.cn) observed on Monday.
As Beijing's largest jewelry store, Caibai witnessed a total sales volume of 13 billion yuan ($2 billion) in 2013. However, the sales volume was far from that of major jewelry companies like Lao Feng Xiang Co.
In an effort to promote its business and diversify its products, Caibai opened a sales division for coral jewelry earlier in April.
However, Caibai's business strategy has been accused by green activists who say the move is not environment-friendly.
Red coral has been a first-level protected species in China since 1988, said an environmentalist surnamed Liu.
International trading of red coral has also been banned since 2008 by the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES).
Serving as a buffer, coral reefs protect coastlines from waves, storms, and floods. The promotion and selling of coral jewelry may trigger the illegal and mass collection of coral, which could contribute to damage of the marine environment.
An official at Caibai said all the red coral jewelry at the store was acquired through legal channels, and did not pose a threat to marine environments.
An expert in Beijing said that the coral is not suitable for wearing, as it will react chemically with body sweat and breed bacteria.
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