The Jade Syndicate

After a moment's thought, Huo Xuan said, "So the Lin Group's demand accounts for roughly one-tenth to one-fifteenth of Myanmar's annual jade trade volume. With such purchasing power, you should be able to negotiate directly with Myanmar."

Lin Hui nodded. "You're absolutely right. Every year, the Lin Group receives invitations from the Myanmar government to participate in their official jade auctions, and we can certainly purchase directly. However, the Jade Syndicate on the mainland specializes in jade trade, and their influence in the industry is unmatched. Without cooperating with them, it's impossible to secure sufficient quantities of high-quality jade."

Huo Xuan frowned. "That makes no sense. Myanmar would never allow the Jade Syndicate to monopolize the market if they truly wanted to maximize profits."

Lin Hui agreed. "You've hit the nail on the head. The Jade Syndicate and Myanmar are essentially in cahoots. According to our intelligence, they have a very close relationship—likely involving under-the-table deals."

Huo Xuan's eyes narrowed. "No wonder. It seems Myanmar is using the Jade Syndicate to control the secondary and tertiary markets, artificially inflating prices. Scarcity drives value—by manipulating supply, they can sell the same amount of jade at much higher prices."

Lin Hui nodded emphatically. "Exactly. Over the past decade, jade prices have soared nearly twentyfold, and high-quality jade has become increasingly rare on the market."

A sudden realization struck Huo Xuan. "Uncle Lin, does this mean that outside the Jade Syndicate, no one can secure enough jade?"

"Not entirely. The jade market is vast, and the Syndicate can't monopolize everything. By controlling just over 40% of the supply, they effectively dominate the mainland market. The remaining 50% is split among other major players—like Hong Kong's jade associations and Singapore's Stone Guild. Independent buyers can only access about 30%." Lin Hui's deep understanding of the industry was evident—this wasn't common knowledge.

Huo Xuan inwardly sighed in relief. Thirty percent is more than enough!

Lin Hui continued, "For years, the Lin Group has sourced jade two ways: 70% from the Syndicate, and 30% through Myanmar's auctions. But securing that 30% is risky—the return on investment is often half of what we put in."

Huo Xuan understood perfectly. Lin Yue had once explained that over 50% of Myanmar's jade was sold as "open material" (fully exposed quality), 20% as "half-gambled" (partially revealed), and only 20-30% as "full-gambled" (completely unexamined).

From this, it was clear that independent buyers mostly acquired half-gambled or fully-gambled jade. The process itself was riddled with complexities—open bidding, sealed bids, and other auction methods that often forced buyers to pay double or more for desired lots.

In essence, Myanmar had perfected profit maximization, repeatedly driving up jade prices. This manipulation had sent mainland prices skyrocketing in turn.

"So if we can secure even a portion of that 30% supply, it should meet the Lin Group's needs," Huo Xuan concluded.

Lin Hui shook his head. "Too difficult. Purchasing from that 30% rarely turns a profit—the costs are simply too high. Consider this: the mainland accounts for 70% of global jade sales, with 80% of all jade processed here. Naturally, Myanmar wants to control the downstream market. The Jade Syndicate's existence is logical—with it in place, no one else gets a taste of the real profits."

Huo Xuan smirked. "Not necessarily. Uncle Lin, consider the Lin Group's jade supply my responsibility—and at preferential rates."

Lin Hui's eyes lit up. No longer dismissive, he nodded. "Very well. If you can truly supply us, the Lin Group will reciprocate with full support."

"The goal of cooperation is mutual benefit," Huo Xuan said smoothly.

Their discussion lasted until 11 p.m., leaving a profound impression on Lin Hui. As Huo Xuan departed, Lin Hui told Lin Yue: "From now on, Tianxing Jewelry can merge orders with Lin Jewelry—bulk purchasing will yield greater discounts."

Overjoyed, Lin Yue thanked him earnestly. "Father, we won't let you down!"

Lin Hui's expression softened—a rarity. "Xiao Yue, as a father, I've prioritized family interests, often at the cost of your feelings. But a father is still a father. When you need help, I'll be the first to stand with you."

Tears pricked Lin Yue's eyes. She rarely saw such vulnerability from him. "Dad... I know," she whispered.

Lin Hui had three children—Lin Yue, the eldest, and two sons. All three habitually addressed him as "Father," a rigid formality reflecting his typically stern,unyieldingly strict upbringing.

That single word—"Dad"—struck Lin Hui like a physical blow. He nodded stiffly. "You may stay or go as you please. I'll leave you to it."

In the end, Huo Xuan left while Lin Yue remained. That night, father and daughter talked heart-to-heart, the barriers between them dissolving. Meanwhile, Huo Xuan paid a late-night visit to Professor Guo.

Liu Ling and Liu Ziguang were set to retrieve a painting tomorrow. Though Huo Xuan didn't know what painting it was, he was certain it must be extraordinarily valuable—otherwise, Liu Ziguang wouldn't have bothered to fetch it personally.

When it came to calligraphy and paintings, Huo Xuan was a complete novice. Bringing Professor Guo along would prevent any mishaps.

It was already midnight when Huo Xuan arrived. Having called ahead, he only needed to knock twice before Guo Lan opened the door. "You're late," she said flatly.

"Sorry for interrupting your rest," Huo Xuan apologized.

"Since when are you so polite?" Guo Lan stepped aside. "Come in."

Inside, Professor Guo was reading on the sofa. He waved Huo Xuan over with a smile. "Ah, Huo Xuan! Sit. You mentioned needing help over the phone?"

Huo Xuan nodded. "Uncle Guo, I'd like you to accompany me tomorrow to authenticate a painting."

Professor Guo chuckled. "That's all? Aside from ceramics, paintings are my specialty. Consider it done."

"With you there, I'm at ease." Huo Xuan handed him an ornate case. "A small token—a jade pipe. It's nothing grand, but I hope you'll accept it."