ICA Congress hosts a historic attendance

The turnout at the ICA Congress, which began on 6 May 2009 in Panyu, China, reiterated that the Chinese jewellery market certainly continues to attract he global diamond gem and jewellery trade. On the opening day, the Congress hosted around 1000 attendees, including 160 foreign delegates, which according to Barbara Wheat, ICA Executive Director is the largest audience in ICA’s history. The Congress is slated to end on May 10, 2009.

The attendees were treated to an insight into the growth of the Chinese market, through discussions with high-level Chinese officials. China’s domestic jewellery consumption stands at around $30 billion. The Chinese domestic market is the world’s largest consumer of platinum, second largest consumer of diamonds, and third largest consumer of gold. Also, coloured gemstone jewellery is gaining importance with the change in outlook towards jewellery as a fashion accessory rather than mere investment.

The main focus of the Congress lay on the presentation of a project for the standardisation of coloured gemstones in China, to improve quality, industrial competitiveness, and consumer awareness. In this regard, ICA has signed a memorandum of agreement with China’s National Gemstone Testing Center (NGTC) to work together for the implementation of nomenclature and quality standards.