China Becomes An Attractive Jewelry Market

PRLog (Press Release) – Jun 07, 2009 – China has become an attractive jewelry market


The jewelry consumption is on the rise in China. Lots of evidence, from diamond rings that enjoy rocketing sales to jades that are getting increasingly popular, from the increasing number of jewels in pawn shops to the crowded jewel identifying sites, has revealed the growth of the jewelry industry in China. The industry has a trend of surpassing many other businesses.
Before the mid-1980s, the jewelry industry in China is very small, with the annual output value being only RMB 100 million then. Twenty years later, the annual output value has exceeded RMB 140 billion. The job opportunities provided by the industry have increased from 20 thousand 20 years ago to 3 million at present.
According to the statistics, the current annual sales of Platinum has amounted to 1.4 to 1.5 million ounces, the annual consumption of diamonds has exceeded $1.1 billion, the annual demand for gold jewelry has reached approximately 200 tons and the growth rate of jewelry consumption maintained 15 percent in recent years in China.
Currently, the annual sales for jade and pearl jewelry, diamond jewelry, and gold jewelry are RMB 40 billion, RMB 30 billion and RMB 30 billion respectively in China, making China an attractive market to the whole world.
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