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According to the statistics, the current annual sales of Platinum has amounted to 1.4 to 1.5 million ounces, the annual consumption of diamonds has exceeded $1.1 billion, the annual demand for gold jewelry has reached approximately 200 tons and the growth rate of jewelry consumption maintained 15 percent in recent years in China.
Currently, the annual sales for jade and pearl jewelry, diamond jewelry, and gold jewelry are RMB 40 billion, RMB 30 billion and RMB 30 billion respectively in China, making China an attractive market to the whole world.
The Chinese jewelry enterprises are now trying to expand the market and they are growing fast. Currently, there are 5000 manufacturers, among which 500 ones enjoy an annual sales volume of over RMB 100 million, in China.
The jewelry processing and selling centers in Shenzhen, Panyu and Dongguan are of considerate scales; some special jewelry bases like Sihui, Jieyang, Pingzhou and Ruili Jade Processing and Selling Bases, Zhuji Pearl Producing Base and Wuzhou Artificial Jewelry Producing, Processing and Selling Base have come into form; and some large Jewelry Centers like Yangzhou and Huadu are attracting much attention, gradually exhibiting the cluster effect.
"After over 20 years' development, the jewelry industry has become an important industry in our national economy." said Zhang Longzhi, the vice president of the All-China Association of Industry & Commerce.
It is reported that in 2005 the domestic sales of jewelry amounted to RMB 140 billion in China and the industry earned $ 5.49 billion worth of foreign exchange for China through exports. China has become one of the countries that have the highest sales of jewelry. Some foreign experts predicted that China would become one of the most competitive jewelry processing and trading centers in the world in 10 years.
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