China to be the world's second largest diamond consumer market

Despite the international diamond market suffering downturn for global financial crisis in 2009, the diamond import and export and trading volume are still achieved a steady growth in Shanghai Diamond Exchange. Imports of finished diamond for jewelry have surpassed Japan to be the world's second largest diamond consumer market, according to the latest announcement of Diamond Administration of China (DAC).

It's said that the diamond imports and exports, trading volume in Shanghai Diamond Exchange reached 1.521 billion U.S. dollars, the first time to exceed 1.5 billion U.S. dollars, with an increase of 16.4 percent over the previous year. Shanghai Diamond Exchange is the only channel for general import and export of diamonds in China.

Benefit from China's sustained economic growth and the continued growth in consumer demand for diamond ornaments in domestic jewelry market especially the wedding market, the total import volume of China's general trade of finished diamond reached 699 million U.S. dollars, an increase of 30.7 percent over the last year. The imports of finished diamond in China have exceeded Japan to be the world's second largest diamond consumer market. The United States remains the world's largest diamond consumer market.

By People's Daily Online