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China's Gem and Jewellery Market Overview
Beijing Zeefer Consulting Ltd., May 2008, Pages: 133
This report presents a full view of China’s gem and jewellery market, provides analysis and suggestions on how to enter this big market in China. The report includes an analysis on market share, competition, key players, market segmentation, import & export changes, sales channel, buyer’s behavior, entry barriers, industrial environment and policy trends. The report introduces the procedure for exporting products to China, the Chinese inspection & standards system, a list of major importers & agencies, annual trade fairs in China and provides full forecasts to 2010 and key statistical data.
Through this research report, readers will know who the major players in China’s gem and jewellery market are, what the market entry opportunities and barriers are, where the right place to sell products is and how many countries / regions export their products to China and where they go.
In recent years, China’s economy has been growing at a high speed. The improvement of per capita consumption levels brings with it the production and consumption of luxuries including gems and jewellery which are becoming the third consumption hotspot after property and automobiles. As shown in the data released by the Gems & Jewellery Trade Association of China, the total sale amount of gems and jewellery in 2006 reached up to RMB 160 billion Yuan with an increase of 14.3% over the previous year.
From 2002 to 2006, the import value of gem and jewellery products has kept increasing at a high speed for four consecutive years. In 2006, the gross import value of gem and jewellery products was up to USD 4.618 billion, an increase of 33.18% over the previous year and is 3.46 times of that in 2002. The annual growth rate is as high as 36.54%.
As far as the ages of the consumers are concerned, as shown in the data released by the Gems & Jewellery Trade Association of China, the main consumers of bijou products are aged from 29 to 40.
Judging from consumption demands, we can see that gem and jewellery products rely mainly on the following three sources of demands - wedding celebrations, daily consumption and inbound foreign tourists.
A conservative estimate of a 10% growth rate is predicted for the average annual demand for gems and jewellery from 2007 until 2010 and the annual consumption value is predicted to be between RMB 176 billion Yuan and 235 billion Yuan.
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