Industry Analysis & Industry Trends
As household incomes rose and living standards improved, jewelry purchases have increased rapidly in China. For China's most popular jewelry category, gold jewelry, consumption volumes in China increased from 224.1 tons in 2004 to 716.5 tons in 2013, representing annualized growth of over 20.0%. In the five years through 2014, total revenue for the Jewelry Store industry in China has been growing at an annualized rate of 22.9% to $98.9 billion. China has become the largest consumer of gemstone, jade and platinum jewelry in the world, and the second-largest consumer of gold jewelry (after India) and diamond jewelry (after the United States).
Jewelry price levels fluctuated greatly in recent years due to global financial volatility.... purchase to read more
Industry Report - Industry Products Chapter
Gold jewelry is the most popular jewelry product in China, accounting for about 60.0% of industry revenue. Over 80.0% of gold in China is processed into jewelry and the remainder is used in the manufacturing sector. Annual domestic consumption of gold jewelry has increased from less than 250 tons in 2005 to more than 716.5 tons in 2013, and China is now the second-largest gold jewelry consumer in the world after India.
Although worldwide gold demand was heavily hit by the global financial crisis in the second half of 2008, gold jewelry consumption has been growing steadily in China due to people's growing knowledge of gold's value-preservation function. Gold jewelry is particularly popular in rural areas... purchase to read more