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Friday, 1st May 2009 (1566 views)

People born during a birth peak in China during the mid to late 1980s will be of marriageable age from 2009 to 2014, potentially boosting the gold jewellery market, analysts have suggested.

A new report available from Reportlinker.com indicated that the Chinese jewellery market was worth around $17 billion in 2008.

More than ten million couples are expected to marry each year in China, possibly pushing up sales of wedding jewellery.

The study of the Chinese jewellery business to consumer ecommerce market also revealed that the globalisation trend for jewellery looks set to continue, providing the Chinese sector with an opportunity for expansion.

Chinese consumers are becoming increasingly affluent and the report explained that many are looking for a way to demonstrate their wealth that maintains its value, such as gold.

In related news, China has revealed that it has become the fifth largest holder of gold bullion in the world after almost doubling its gold reserves to 1,054 tonnes since 2003.

 

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