$21m jade auction in China boosts Myanmar regime

The Irrawaddy

Myanmar’s military regime has pocketed $21 million from its first jade auction held on Chinese soil, underscoring how the country’s natural wealth continues to bankroll its war effort.

The auction took place in late July in Jiegao, a border trade zone opposite Muse in northern Shan State. Around 500 tonnes of jadeite rough were offered, with 134 successful bids. One high‑quality stone alone fetched 13.2 million yuan ($1.9m), the highest price of the event. In total, 30.8 tonnes were sold, generating 142.97 million yuan ($21m).

The jade was supplied almost entirely by the state‑owned Myanmar Gems Enterprise, with proceeds flowing directly into regime coffers. Most lots were airlifted to Jiegao to avoid territories controlled by ethnic armed groups.

The auction highlights the junta’s deepening reliance on China. Since losing control of key mining hubs to resistance forces, Naypyitaw has shifted sales across the border to reach its main customers directly. The jade and ruby industries remain dominated by military‑owned conglomerates MEHL and MEC, which have long funnelled off‑book revenues to the armed forces.

At the same time, a new UN report warns that unregulated rare earth extraction in Kachin and Shan states is devastating communities and ecosystems. Toxic chemicals used in mining have poisoned farmland and water, with local groups linking exposure to miscarriages and severe health complications.

Together, jade and rare earths illustrate how Myanmar’s resource wealth is being weaponised. For the regime, auctions like Jiegao are lifelines. For civilians, they are reminders of how conflict and exploitation continue to shape the country’s future.

-2026-08-30