China's Jewelry Demand Remains StrongThe jewelry demand in China is running strong as more Chinese have the cash to buy what used to be considered a luxury.Statistics from the administration center of jewelry under the Ministry of Land and Resources show that in 1999, 80 billion yuan- worth (9.6 billion U.S. dollars) of jewelry was sold on the domestic market, and 2.14 billion U.S. dollars-worth of jewelry was exported. Zhang Peili, vice-president of the China Jewelry Association, said jewelry manufacturing and selling in China have reached a considerable scale, and the use of high-tech and advanced craftsmanship and technique have become a common feature of the industry. Some 24,500 enterprises, either state-owned or private, are now involved in the jewelry-making business. |
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