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Building a physically powerful diamond industry in China

The Chinese diamond industry was not spared from the special effects of the global economic slowdown in 2015. Despite significant economic headwinds, China’s jewellery marketplace continue to develop albeit at a slower pace.

A few diamond company said their business desire on the mainland is on track, with a number of energetic players even escalating their reach overseas.

From coarse sourcing, cutting and polishing to jewellery design developed and promotion, the Chinese diamond manufacturing has maintained its momentum in the last two decades. In this quality, diamond manufacturer shared with JNA their insight about China’s lavishness jewellery marketplace and its future growth potential.

Violent diamond source
There is continuously high demand for rough diamonds from Chinese diamantaires who make available polished diamonds to the overseas buyer and local retailer. Since familial utilization has surged in modern years, the Chinese retailers’ demand for polished diamonds has happening to surpass that of the overseas purchaser and – to complete the circle – polished stones bought by overseas jewellers often ended up as completed jewellery pieces sell in China.

China is the world’s second-biggest diamond developed center after India but diamond wholesalers and retailer in the country buy most of their polished diamonds from overseas suppliers, resulting in elevated-cost pressure for the sector, said David Wang, chairman of Shenzhen Cheungning Diamond Co Ltd.

However, the sector possibly will soon wean itself off its confidence on imported polished diamonds with the organization of the Shenzhen Rough Diamond Exchange Co Ltd (SRDE), which already obtained its registration certificate for bonded warehouses from the Shenzhen Customs House, Wang revealed.



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