China ranks second in world diamond imports

11:10, December 01, 2010      

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China's consumer market for imported diamonds now ranks second in the world, according to China Diamond Forum, which opened Nov. 30, 2010 in Shanghai.

The international diamond industry is generally optimistic about the prospects for the development of Chinese market and industry insiders believe that the next decade can be called the Chinese diamond industry's "golden years."

Data shows that from January to September this year, finished diamond jewelry imports in the United States, mainland China and Japan totaled 3.1 billion U.S. dollars, 900 million U.S. dollars and 510 million U.S. dollars, respectively.

In 2009, China bought more diamond from abroad against the financial crisis effect in the first half of this year. Between January and June in 2009, China's foreign trade in diamond amounted to 692 million U.S. dollars, a growth of 6.9 percent on the same period of last year. The total included a record 300 million U.S. dollars in import value, up 12.7 percent.

The Shanghai diamond trading administration office attributed the fast growth in imports to a relatively stable domestic economy and constant growth in demand for jewels at home — in particular those used for wedding ceremonies.

China has become the world's third largest diamond consumer, next only to the United States and Japan.

In the first half of 2009, the number of members of Shanghai Diamond Exchange increased by 10 to 240.

By Huang Beibei, People's Daily Online


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