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Although the explosive growth of the last three decades is predicted to slow, domestic consumption and discretionary spending is expected to rise. The Chinese market is the new focus for luxury and glamour for many types of jewelry (figure 1).

The same holds true for the gem and jewelry industry: For years a global manufacturing hub, China is emerging as the strongest consumer market for luxury products such as jewelry.Ĭhinese consumers are now synonymous with luxury products, and this is true with gemstones and jewelry. The title of a 2004 New York Times article, “The Chinese Century,” summed up the widespread sentiment that China will become the world’s leading economic power and most influential country early in this century (Fishman, 2004). The West’s fascination with China as an economic powerhouse is equaled by the tremendous opportunities found there. Although the recent global economic crisis has affected domestic sales, the Chinese gem and jewelry industry shows great potential for growth. At the same time, technological advances in manufacturing are leading to higher quality standards and lower labor costs, allowing China to meet the increasing demands of the global and domestic markets. They have a keen sense of both value and brand trust, and they have become more open to contemporary and Western designs and materials. Chinese consumers are becoming more knowledgeable about gemstones and jewelry and more astute in their purchases. The highest growth potential lies in the inland urban centers, as Chinese citizens continue a massive migration from rural areas to the cities. While rising costs of labor in China have created challenges for the manufacturing sector, this has led to greater domestic consumption of luxury products, including jewelry. Already a global hub for jewelry manufacturing, it is now a rapidly growing consumer market. In the wake of its phenomenal economic growth since 1978, China has captured the attention of the global gem and jewelry industry.

Photo from China Gems magazine courtesy of Enzo. Actress Ning Sun models high-end jewelry from Enzo, a Chinese retailer founded in Hong Kong and a true mine-to-market colored gemstone brand.

Comprehensive CAD/CAM For Jewelry Certificateįigure 1.

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