China jewelry market heating up

The high end jewelry market in China appears to be picking up after last year's slowdown. Traders at the China International Gold, Jewelry and Gem Fair in Shenzhen say the Chinese love of modern design is one factor in encouraging sales.

Sapphires, emeralds, rubies and diamonds twinkle and shine at the 11th edition of the Fair in Shenzhen. Rings, necklaces, bracelets and other dazzling pieces are also on show.

Pearl jewelry is always popular in China and in the Asian markets. Following an economic slowdown in China last year, exhibitors believe their business will get back on track in 2013.

Among them is owner of Zorab Creations Henri Istanboulian. He says China is the way forward for his business.

Henri Istanboulian, owner of Zorab Creations, said, "I think it is one of the best markets to be in today, China. Because first of all, as a population, if you think of China, it is a huge, huge market, which is the other half of the world. Second, they are into upper level into the designing, into fashion, they are so up-to-date it's unbelievable."

While some of the jewelry is priced well into the thousands of US dollars other pieces are made from the less expensive semi precious stones.

Mavis Poon is general manager of Dame Bijoux based in Hong Kong. She says her business has felt economic slowdown in the Chinese mainland.

Poon said, "Last year, it took our clients longer to consider buying our products. They slowed down their pace when it came to opening up a new retail shop, which affected our business. However, in general, our turnover is still increasing, but slower than before."

Traditional jewelry such as diamonds, rubies, emeralds, sapphires and pearls still dominates the fair but jewelry made from semi-precious stones also feature at the exhibition. Stones such as agate and the more expensive opal are being introduced into the Chinese market.

Chairman of jewelry distributor GemSong Peter Vajda says he thinks the Chinese market is opening up to new gems and stones.

Vajda said, "The taste of the Chinese is very interesting. While they are very comfortable with jade and know jade quite well, again, they are just learning about other gemstones. But, there are gemstones that are historically part of the Chinese culture. For instance, in Buddhism, it's primarily amber, coral and turquoise."

The fair features over 380 exhibitors from 10 countries and regions including China, India, Sri Lanka, Thailand and the United States.