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China posts double-digit growth in diamond imports in H1

(Xinhua)
Updated: 2009-07-27 18:28

China bought more diamond from abroad against the financial crisis effect in the first half of this year, Shanghai diamond trading administration office said on Sunday.

Between January and June, China's foreign trade in diamond amounted to $692 million, a growth of 6.9 percent on the same period of last year.

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The total included a record $300 million in import value, up 12.7 percent.

The office attributed the fast growth in arrivals to relatively stable domestic economy and continuous growth in demand for jewels at home, those used for wedding ceremonies in particular.

China has become the world's third largest diamond consumer, next only to the United States and Japan.

In the first half of this year, number of members of Shanghai Diamond Exchange increased by 10 to 240.