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China becomes leading jewelry consumer

The Platinum Guild International unveiled data recently which ranked China as the second largest consumer of gem products, with its over 100 billion yuan of annual sales for both jewelry and jade, second only to the US.

China's jewelry consumption is increasing by 8 percent to 10 percent annually. Sales of jadeite, jade, and pearl jewelry reached some 40 billion yuan per year, the largest in the world. It is the world's fifth diamond jewelry market, with annual sales of 30 billion yuan, and the fourth gold jewelry market, valued 30 billion yuan.

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