Although China is considered to be a relative newcomer,it is becoming an effective manufacturing center. Inexpensive labor being its main advantage, a few foreign sightholders "outsource" there; and a number of Hong Kong based companies (as well as some from Israel, Belgium and India), have cutting and polishing facilities there. Labor costs in Shanghai factories, and a few in Guangdong, are said to be comparable with Bangkok; whereas, inland, costs are closer to the diamond cutting costs in India.
China imports approximately USD$500 million of rough diamonds annually, and specializes in the sawn and sawable categories of rough (that don't demand high technology). Some factories are already cutting fancy shapes, and others, in southern China, have been cutting larger goods (up to 2.00 carats). There are 3 rough diamond mining areas in China: the Wafangdian Mine, in Liaoning province in northeastern China; an area of alluvial diggings in Hunan province in the central part of the country; and, the Mengyin Mine in Shandong province; the rough, most of which is exported, includes assortments from $30 to $125 per carat. |
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