Myanmar junta launches first official jade sale in China amid sanctions and conflict

The Myanmar junta has launched its first official jade sale in China amid tightening sanctions against the regime and safety concerns among Chinese buyers. The move is part of the junta's efforts to control the country's lucrative jade industry and generate foreign currency since it seized power in a 2021 coup. The junta held a jade auction in Ruili, Yunnan province, China, organized by the state-owned Myanmar Gems Enterprise (MGE). Chinese buyers participated in the auction, where jade controlled by the junta was sold. However, the sale comes at a time when Western countries have intensified sanctions against the junta, and safety concerns are growing among Chinese buyers due to the escalating conflict within Myanmar. The junta is expected to use the revenue generated from this sale to sustain its military rule and fund its ongoing conflict.