15:46, May 13, 2009

Reporters learned from a news conference held at the "Jewelry Shanghai 2009," that in recent years, the diamond market was the fastest growing market in the entire Chinese jewelry market. As a result of continued increase in gross market sales, China has now become one of the largest diamond consuming markets worldwide.
According to 2008 statistics, the total transaction volume on the Shanghai Diamond Exchange reached 1.37 billion USD, and retail sales of diamond ornaments in China exceeded 20 billion yuan.
From October 2008 through the first quarter of 2009, important diamond markets such as Europe, the US and Japan have all been affected by the financial crisis and have experienced noticeable declines in sales, while the diamond market in Chinese mainland has maintained relatively fast growth, becoming the only region with sales growth among the major global economies.
According to statistics by De Beers, the world's largest diamond producer, during this financial crisis, it has suffered a harsh winter in major markets such as the US and Europe. However, its diamond sales in China have increased by over 15 percent against the trend.
Industry experts predict that the Chinese economy will bottom out first and China's diamond market will experience a new round of growth at increased speed.
In line with market expectations, Jewelry Shanghai 2009 has attracted more than 400 exhibitors from 22 countries, has 1,100 exhibition spaces and an exhibition area of nearly 23,000 square meters, a 25 percent increase year-on-year.
The Jewelry Shanghai 2009 is jointly hosted by many organizations, including the Gems & Jewelry Trade Association of China, the National Gems & Jewelry Technology Administrative Center under the Ministry of Land and Resources, Shanghai Gold Exchange and the Shanghai Diamond Exchange. The event will be held from May 13 to 16 in the Shanghai New International Expo Center (SNIEC). By People's Daily Online