Int’l jewelry brands vie for tier 2 Chinese cities

Nanjing (CNS) -- Second-tier Chinese city residents are demonstrating stronger purchasing power in high-end international jewelry brands, global jewelry exhibitors told CNS on Friday at the ongoing 2012 Jiangsu International Jewelry Expo.

In 2011, the sales revenues of China's jewelry industry almost hit 400 billion yuan (about US$ 63.45 billion). Its consumption figures in gold, platinum, diamond, silver, jade and colored gemstone sectors all rank high among all countries. Chinese tourists have also become a backbone income source for local jewelry sellers in Sri Lanka and Thailand.

Judging by the market performance of China's most developed cities such as Shanghai and Beijing, said Sri Lanka jeweller Thilak Weerasinghe, the potential of the inland city market is huge.

Armed with considerable knowledge on the industry, mainland Chinese are more active than ever in consuming high-quality gems, a Thai merchant noted, adding a finely wrought 10-carat piece is the best seller.

During China's current stock market depression, consumers are realizing the hedging and appreciation values of gold and jewelry. High-end adornments purchased for their investment value are commodities particularly destined for a brighter future.