Israeli Diamond Portal Reports: China Claims to be World's No.2 Diamond Market in 2009

Jan. 24, 2010 - PRLog -- According to the Chinese, trade on the Shanghai Diamond Exchange rose by 16.4% last year, amounting to approximately $1.5 billion.

China's official Xinhua news agency, quoted by the website, said that the year-on-year rise, which defied the global financial crisis, was due to China's boisterous economic growth in 2009, which reached 8.7%. Xinhua added: "As the economy continued to develop in a stable manner, consumer demand for jewelry continued to grow, especially for diamonds for the wedding market. This year, China overtook Japan to become the world's second largest diamond market for consumers behind the United States."

China's increasingly growing middle class and vast pool of diamond and jewelry customers are seen as the key factors which contributed to the reported rise in diamond sales.


By: Uri Haviv contributed to this report

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The Israeli Diamond Industry organizations
Behind the Israeli Diamond Industry are a group of vital and dynamic institutions. Each one is responsible for a different aspect of the industry’s activities.