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This item is a traditional antique Chinese jade pendant, often referred to as a "lock-form" or "amulet" pendant likely dating from the Qing Dynasty (1644-1911). It measures 2-1/2" across and weighs 33.4 grams.

Material: It is carved from white or light-colored jade.

Design: The piece features intricate openwork carving, likely depicting stylized dragons or cloud forms along the border with a central plaque.
Inscription: The central rectangular plaque contains carved Chinese characters, commonly used to convey good wishes or blessings.
Function: Historically, such jades were worn as waist ornaments or pendants to signify moral integrity and rank. Translation

Characters in central panel on both sides: Good wishes or blessings.

Design: The pendant features reticulated (pierced) carving of stylized dragon mythical beasts at the top corners with cloud forms continuing around the border, surrounding the central plaque. The central panel contains seal script inscriptions, which often convey blessings for fortune, longevity, or a prosperous business.
This piece was part of a collection we imported from Beijing Arts and Crafts Department in the early 1980s. This Chinese government office as well US customs certified the jade pieces we purchased as antique. At that time, we were importing many items from the Chinese National Arts and Crafts and selling wholesale to antique stores and interior designers. There were not many companies that were invited by the Chinese government to even purchase these types of items; one could purchase a few items from some of the government stores as a tourist, so this was a unique opportunity at that time . We purchased all of the jade pendants/medallions that they had.