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China's jewelry sales up 31 percent in April

May 29, 2007

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Beijing, China—China's rise as a market for jewelry continues, as retail sales of gold, silver and jewelry rose 30.8 percent in the country in April, according to a report from the Antwerp Facets News Service (AFNS).

The AFNS cited China's National Bureau of Statistics for the figures.

Total retail sales of consumer goods were up 15.5 percent to approximately $87 billion. Urban areas accounted for two-thirds of retail sales at $59 billion, which supports assertions that the country's skyrocketing growth benefits only a significant minority (250 million) of the country's total population of 1.2 billion.

In terms of the diamond industry, the Shanghai Diamond Exchange is one of the newest members of the World Federation of Diamond Bourses and serves as a hub for the trade in China. Hong Kong has long-served as a world center for the industry.
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