Considerable growth in Chinese gem and jewelry market

AS per the China Gems and Jade Association, the Chinese gem and jewelry market is expected to grow by some 15 percent annually until 2010. Moreover, it is a buyers market given rapid surges in demand from consumers of every level across the country. In addition, the fact that De Beers the worlds diamond trading giant has penetrated into this huge market with serious marketing strategies, the company has created stable and sustainable growth in the diamond market. The growth however has been at the expense of colored-stone jewelry

By and large, domestic production of gems and jewelry is still far from responding to the tastes of certain groups of consumers where preferences are widely varied, but show a preference toward unique designs and high-quality products. To fill the gap, China has to depend upon imports of high-end jewelry

Kasikorn Research Center predicts Chinese imports of Thai gems and jewelry in 2006 are likely to grow at least 20 percent, which will eventually lead to a declining trade deficit on these products with China