News

Advanced Search

China’s Polished Imports More Than Triple

Nov 7, 2021 5:50 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... 
China’s polished-diamond imports soared in the first nine months of the year as domestic jewelry demand continued to recover from the Covid-19 downturn.

Shipments into the country through the Shanghai Diamond Exchange (SDE) — after returns of unsold goods — more than tripled year on year to $2.32 billion for the period from January to September, the bourse said in a recent statement. Compared with 2019, imports rose 59%.

“Due to the impact of [the] pandemic on international travel, a large part of overseas jewelry consumption by Chinese tourists has shifted back to [the] domestic market,” said Lin Qiang, president of the SDE. “Furthermore, the Chinese government has been strengthening its anti-smuggling and anti-money-laundering efforts this year, which has played a positive role in promoting the entry of diamonds into the Chinese market through the legal import channel of [the] SDE.”

Image: Yuyuan Garden, Shanghai. (Shutterstock)
Tags: China, COVID-19, Lin Qiang, mainland china, Polished Diamonds, polished imports, Rapaport News, SDE, Shanghai Diamond Exchange
Similar Articles
Rapaport LogoRapaport Weekly Market Comment
May 26, 2022
News: Polished trading sluggish but suppliers to large jewelry retail brands doing well. Expectations rising
IGI 140IGI Grades Largest Polished Lab-Grown
May 25, 2022
The International Gemological Institute (IGI) has graded a 27-carat lab-grown stone that it claims is the world’s
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2022 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.