As China’s middle class expands, the nation’s diamond market has grown enormously over the past decade. Chinese demand now impacts global diamond trading and pricing, influencing engagement ring trends and the industry far beyond its shores – including in London’s historic diamond hub.
In 2000, China accounted for under 1% of global diamond jewelry sales. Rapid economic growth fueled rising incomes and increased consumer appetite for diamonds. By 2015, Chinese purchases represented over 15% of the world diamond market.
China is now the world’s second largest market for diamond jewelry after the United States. Their immense population and economic power makes China a diamond powerhouse, especially for branded jewelry pieces.
Chinese buyers tend to favor large, high-quality diamonds. This filters down to engagement rings, where bigger carat sizes and flawless clarity are in-demand status symbols. Chinese couples also gravitate toward branded jewelry as luxury markers.
This expansive appetite has impacted diamond mining, trading and pricing worldwide. More diamond mining now caters to Chinese tastes. Savvy London jewelers like the Diamond Boutique source diamonds anticipating this lucrative Chinese demand.
Even with local currency fluctuations, China’s vast consumer base solidifies diamonds as sound investments in Engagement rings london. As London firms specialize for Chinese buyers abroad, Chinese demand ripples back influencing their domestic engagement ring market.
Though geographically distant, China’s prospering diamond appetite has linked these nations’ markets. For London couples selecting that perfect ring, global connectivity makes diamond quality and access better than ever.