China gives diamond new boostthe exportin cut diamonds to China up by 86 percent
TheAntwerp diamond industry will be highly visible in the Belgian pavilionat the World Expo in Shanghai, which opens on the first of May. Withtheir `diamond corner' they hope to attract 70,000 visitors per day. Ofthe turnover of 33 billion euros enjoyed by this industry, anincreasing percentage comes from China and Hong Kong, with the exportin cut diamonds to China up by 86 percent in one year. During the pastthree months, revenue from China (535 million euros) was more thandouble compared to the first six months of 2009. With the tremendouseconomic growth experienced in China, more and more Chinese areachieving middle to higher income status, putting them in a position toindulge in diamond jewellery, with wedding rings graced with thisprecious stone becoming the trend in Hong Kong.
In anattempt to lure visitors to their stall, the Belgian corner will rafflesix pieces of diamond jewellery on Saturday and Sunday. MickeyWeinstock, coordinator of the diamond exposition, expects a rush ofvisitors and has followed the advice of the Chinese police to increasesecurity on these days. Among the pieces to grace the show are thewinning designs of the most recent Diamond Awards, a competition whichrewards jewellery designers for their creative incorporation ofdiamonds in jewellery. Of the thirty winners, 12 contestants wereChinese. Various diamond cutters will show and explain their cuttingtechniques. The Antwerp diamond industry is positive that the WorldExpo will be a knockout. A survey has shown that Chinese visitors haveput the Belgian pavilion at number four on their wish list after China,France and Italy, remarks Weinstock.
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