China becomes world's largest platinum jewels consumer

China has overtaken Japan to become the world's largest platinum ornaments consumer.

"The skyrocketing world price of noble metals has not affected the sale of platinum ornaments," said Lin Ziyuan, president of the World Platinum Association China Region, quoted by the Beijing Daily on Monday.

The report did not elaborate on the amount consumed by China, but said that a survey found there has been no change in Chinese consumers' preference for platinum jewels.

The sales of platinum jewels rose 10 percent in China in a 30-day period before and after the Spring Festival, China's Lunar New Year, which fell on Jan. 29 this year.

An earlier report said the platinum wedding rings, considered symbols for lasting romances, were in short supply in Beijing as an increasing number of young Chinese flocked to marriage registration organs after the nation entered the Year of the Dog, which is believed propitious for marriage.

Platinum is mainly used to make auto-catalysts and jewelry, items which have experienced a boom in demand in new Chinese and Indian markets.

Source: Xinhua