Chinanews, Beijing, Nov.1 – China is becoming one of the world's most important markets for jewellery consumption. In 2007, revenue from jewellery sales will reach 180 billion yuan, an increase of 15% from last year, said Shi Hongyue, deputy secretary-general of the Gems and Jewellry Trade Association of China, the Market News reported.

 

Chinese jewellery market has increased rapidly in these years and there is a huge potential for its expanding in future. In China, the consumption of major jewellery ranks among the top in the world.

 

China is the world's largest country in jade production and consumption, for China produces 95% of the pearls in the world.

 

China also ranks first in the consumption of platinum. The country's gold consumption is the fourth largest in the world. China's consumption of diamond is the largest in Asia and the fifth largest in the world.

 

China consumes about 600 tons of silver every year. In addition to these precious stones, other types of jewellery, such as rubies, sapphires, palladium, crystals, and simulated ornaments also enjoy a good sale in China.