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Thursday, 13th November 2008 (1961 views)

As demand for gold jewellery continues to grow across China, jewellers in the United Arab Emirates (UAE) are reportedly planning to expand their operations in the country.

According to a report by Emirates Business, the Chinese market is expected to boom "despite the worldwide economic turmoil" and jewellers in China have stated that they would welcome partnerships with companies based in the UAE.

The article suggests that, as an emerging market for jewellery, China's economic growth and demand from a prosperous young population will drive up sales.

Tawhid Abdullah, managing director of Damas, stated: "Our objective is to get closer to Chinese customers through a suitable partner. Our long-term plan is to have a presence in all the major provinces."

Damas has a presence in Hong Kong and is now planning to open a series of outlets in China in order to expand its overseas operations and take advantage of the growing market.

The Chinese gold mining industry is also expanding rapidly and output rose by more than four per cent to 199.25 tonnes between January and September this year, according to the China Gold Association.

 

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