Data from global diamond giant De Beers Diamond Distribution shows that China’s demand for diamonds is slowing.
Last year, China became the world’s second largest consumer of diamonds, with diamonds accounting for 10% of global production. Before the United States, it was the United States that consumed 38% of global diamond production.
According to Varda Shine, chief executive of De Beers, a diamond trading company responsible for the distribution of rough diamonds, Chinese diamond consumption increased by 20% last year, and this year's increase is about 10%.
Many luxury goods companies have experienced a slowdown in growth this year in China. De Beers is just one of them. Daimler last week issued a profit warning that its Mercedes-Benz brand could not achieve its profit target this year and expects that demand for Porsche will decline next year. As early as the beginning of September, British luxury brand Burberry also issued a profit warning.
The latest figures from CLSA and the National Bureau of Statistics of China show that in the first quarter of this year, the sales of jewelry in China increased by 20% year-on-year (compared to the same period of last year), while the growth rate in the same period last year was 59%. The latest data provided by Bain, a US consulting firm, also shows a similar trend: sales revenue of watch manufacturers in the first quarter of this year increased by 15% year-on-year, which is lower than the 40% growth rate in the first quarter of 2011.
Not all luxury brands are pessimistic about the Chinese market's expectations. The French brand Hermes said last month that the company’s second-quarter sales of Birkins, scarves and other products in the Chinese market had increased by 25% year-on-year, and the company subsequently raised its growth target.
De Beers began distributing diamonds on the Chinese market in 1994. Seine said that four-fifths of newly married couples in Beijing and Shanghai now use diamond rings as engagement rings. “Chinese consumers have high eye-catching diamonds, and they usually buy the highest-quality diamonds with better quality.â€
Sain predicted that China and India will become the fastest growing diamond markets. Both countries are already global consumers of gold (1768.70, 4.10, and 0.23%), and have the tradition of wearing and donating precious metals.
The diamond trading company managed by Sayin sells raw diamonds to a so-called "sightholder". These watchers cut after polishing the loose diamonds. The company has two sighting companies in Hong Kong, namely Chow Tai Fook Jewels Limited and Chow Sang Sang Group International Limited. However, there are no diamond dealers in mainland China.
Last year, China became the world’s second largest consumer of diamonds, with diamonds accounting for 10% of global production. Before the United States, it was the United States that consumed 38% of global diamond production.
According to Varda Shine, chief executive of De Beers, a diamond trading company responsible for the distribution of rough diamonds, Chinese diamond consumption increased by 20% last year, and this year's increase is about 10%.
Many luxury goods companies have experienced a slowdown in growth this year in China. De Beers is just one of them. Daimler last week issued a profit warning that its Mercedes-Benz brand could not achieve its profit target this year and expects that demand for Porsche will decline next year. As early as the beginning of September, British luxury brand Burberry also issued a profit warning.
The latest figures from CLSA and the National Bureau of Statistics of China show that in the first quarter of this year, the sales of jewelry in China increased by 20% year-on-year (compared to the same period of last year), while the growth rate in the same period last year was 59%. The latest data provided by Bain, a US consulting firm, also shows a similar trend: sales revenue of watch manufacturers in the first quarter of this year increased by 15% year-on-year, which is lower than the 40% growth rate in the first quarter of 2011.
Not all luxury brands are pessimistic about the Chinese market's expectations. The French brand Hermes said last month that the company’s second-quarter sales of Birkins, scarves and other products in the Chinese market had increased by 25% year-on-year, and the company subsequently raised its growth target.
De Beers began distributing diamonds on the Chinese market in 1994. Seine said that four-fifths of newly married couples in Beijing and Shanghai now use diamond rings as engagement rings. “Chinese consumers have high eye-catching diamonds, and they usually buy the highest-quality diamonds with better quality.â€
Sain predicted that China and India will become the fastest growing diamond markets. Both countries are already global consumers of gold (1768.70, 4.10, and 0.23%), and have the tradition of wearing and donating precious metals.
The diamond trading company managed by Sayin sells raw diamonds to a so-called "sightholder". These watchers cut after polishing the loose diamonds. The company has two sighting companies in Hong Kong, namely Chow Tai Fook Jewels Limited and Chow Sang Sang Group International Limited. However, there are no diamond dealers in mainland China.
Polyweb Urethane Screens is well known for its abrasion resistance, high open area, capacity and long life .And performance rivaling that of conventional woven wire screens.
Polyweb Urethane Screens features easy installation, reduced operating and maintenance costs, and superior capacity and performance with high open area of 35 to 45 percent.
Polyweb Urethane Screens
Polyweb Urethane Screens, Polyweb Urethane Screen, Urethane Screens, Polyurethane fine screen mesh, Urethane Fine Screens, Urethane Screen
HUATAO LOVER WIRE MESH CO.,LTD. , https://www.huataowiremesh.com