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CHINA
A STORY OF GROWTH AND EVEN GREATER
GROWTH POTENTIAL
Sales of diamond jewellery to Chinese consumers
were the fastest growing in the world over the last
decade, with a compound annual growth rate of 21
per cent from 2003 to 2013 (see Fig. 40). As a result,
the share of polished diamonds sold in jewellery to
Chinese consumers grew from barely three per cent
in 2003 to just over 13 per cent of global demand in
2013. Including Hong Kong and Macau, the share
of this region’s consumers in the global demand
of polished diamonds in jewellery was almost
16 per cent in 2013 in USD.
This vertiginous growth in demand for diamond
jewellery has been driven by growing numbers of
consumers able to buy into the category, and by
the increase in the average price and the sizes of
diamonds they can afford to buy. Average prices
paid jumped by 32 per cent in real terms between
2003 and 2013, to over RMB 8,000 (US$1,300)
(see Fig. 41). Average carats per piece over the
same period rose from 0.18 to 0.25.
Source: De Beers
Per cent (by acquirers, pieces and value)
F I G . 4 1 :
20 1 3 CH I NESE D I AMOND JEWELLERY BY SEGMENT
AVERAGE PRICE PAID IN 2013
72
24
4
Bridal
Consumers
Single women
Married women
65
14
21
Pieces
Note: The 2013 FX assumed is US$1 = RMB 6.1905. All prices rounded
65
11
24
Value
RMB 10,300(US$1,700)
RMB 7,000(US$1,100)
RMB 9,000(US$1,500)
FIG. 40:
DIAMOND SALES TO CHINESE CONSUMERS
Source: De Beers
USD million (nominal)
10,000
8,000
6,000
4,000
2,000
0
2013
2007
2003
Polished diamond value
Diamond jewellery value
2003 –2013 CAGR
Diamond jewellery: 21%
Polished value: 23%