Synthetic diamonds are attracting strong interest from both Chinese and international buyers at the ongoing Beijing International Jewelry Fair.
The exhibition, which opened on Wednesday and runs until Sunday, features a diverse range of jewelry, including pearls, diamonds, and jade. However, rings and necklaces made with synthetic diamonds have emerged as some of the most popular items among visitors.
Many buyers cite affordability as a key reason for choosing synthetic diamonds. “I think the price of synthetic diamonds is within my budget,” said one customer.
China’s expanding production capacity has led to a decline in synthetic diamond prices, further boosting demand.
“Before 2023, a one-carat synthetic diamond ring cost between 10,000 and 20,000 yuan (about 1,380 to 2,766 U.S. dollars). Now, prices have dropped by half, ranging from 5,000 to 6,000 yuan (about 690 to 830 U.S. dollars). Previously, customers mostly purchased 0.3-carat or 0.5-carat rings. Now, young buyers prefer rings that are at least one carat,” said exhibitor Qin Wei.
The increased production has also driven up exports, with international buyers showing strong interest. Several exhibitors reported a surge in overseas orders.
Zhang Wei, a diamond exhibitor, met with representatives from four enterprises and was close to finalizing export deals.
“In the past six months, our total overseas sales have risen by 40 percent. China has clear advantages in both diamond craftsmanship and pricing,” Zhang said.
As synthetic diamonds continue to gain popularity, exhibitors at the fair expect demand to remain strong in both domestic and international markets.
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