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SALES OF JEWELRY IN CHINA RISE RAPIDLY.
BEIJING, April 1 Asia Pulse - Jewelry consumption in China is expected to hit 200 billion yuan (US$24.2 billion) in ten years, according to sources with the Gemmological Association of China.
In 1982, jewelry sales in the country stood at 100 million yuan. But now, yearly sales total 100 billion yuan.
"Judging by this speed, sales in 2013 may double," said Wang Yongqing, deputy secretary-general of the association during the Jewelry Shanghai 2004 convention being held from March 30 to April 2.
"Nowadays China is a big consumer market for jewelery," Wang added.
Yearly sales of platinum hit 1.5 million ounces, or 52 per cent of global consumption.
The yearly consumption of gold is 240 tons, ranking third in the world.
Sales of diamond ornaments have made a breakthrough of 10 billion yuan in sales, making China the biggest market for diamonds in Asia, according to the paper.
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