Shanghai Sparkles over Diamond Jewellery Expo

Home>>Business

Last updated at: (Beijing Time) Tuesday, March 18, 2003

Shanghai Sparkles over Diamond Jewellery Expo

Shanghai, aiming to become a leading diamond exchange centre in Asia, is to host its first international diamond exhibition this weekend, according to local sources.

DISCUSSION

CHINESE

SEND TO FRIEND

Shanghai, aiming to become a leading diamond exchange centre in Asia, is to host its first international diamond exhibition this weekend, according to local sources.

The 2003 Shanghai International Diamond Jewellery Fair, the first of its kind in Asia, is to be held from March 21 to 24 at the Shanghai International Convention Centre.

The exhibition, supported by the Shanghai Diamond Exchange - the country's first diamond trading house, has attracted more than 60 world leading diamond businesses from more than 10 countries and regions, according to a joint press conference held yesterday in the city.

"Diamond products brought by each exhibitor will be valued at more than US$1 million," said Michael Tam, managing director of Hong Kong-Asia Exhibition (Holdings) Ltd, one of the event's main sponsors.

Individuals and organizations are invited to attend the exhibition to make deals with international diamond businesses.

Shanghai is to hold such a diamond-focused exhibition annually in the following years to promote diamond trade in China, according to the sponsors.

Sources said Shanghai is the country's largest diamond market with sales of diamond products sales hitting US$120 million last year, up 40 per cent from the previous year.

By the end of 2010, diamond sales in Shanghai should reach US$3 billion-US$5 billion, according to an earlier report issued by the Shanghai Diamond Exchange.

Currently, however, there are only a few noted brands dealing with domestic diamond products.

Only two domestic diamond producers will attend this year's exhibition with most of the country's high-grade diamond jewellery having to be imported, according to sponsors.

Diamond jewellery is becoming increasingly popular in China, especially among youngsters.

China has exempted import taxes on international diamond products via the Shanghai Diamond Exchange since the beginning of last year.

According to statistics from the State-authorized diamond trade house, its annual trade of diamond products reached more than US$100 million last year.

Questions?Comments? Click here

China Welcomes Overseas Investment in Diamond Industry

China's Diamond Import Climbs

China Allows First Diamond Shipments under New Global Rules against Illicit Trade

China Warns US not to Send Wrong Signals to Taiwan ( 3 Messages)

Germany smashes US Fancy of Submarine Sale to Taiwan ( 2 Messages)

Who'll Pay Money for US-Planned 'Toppling Saddam'? ( 7 Messages)

Chinese Scientists Refute US Claims on Rocket Data Transfer ( 3 Messages)

Traditional Chinese Medicine Grabs World Attention ( 16 Messages)