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Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

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There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

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The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

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De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

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WGC: Chinese jewellery industry set to grow in 2021

10 february 2021
Image credit: Chow Tai Fook

World Gold Council (WGC) recently published the Gold Demand Trends 2020. The data from the report indicates that China’s jewellery demand dipped by 35 per cent last year. The reason was attributed to challenges posed by COVID-19 and other related issues.
Now, while jewellers in China are banking on the recovery in the local economy to continue into the coming months, they are also relying on sustained growth in consumer sentiment. Also, the jewellery industry hopes for better income and effective pandemic containment to support the jewellery industry in 2021.
According to WGC report, the future, however, holds promise looking ahead to 2021. The Council’s fieldwork indicates an optimistic attitude among major jewellers in China, who experienced strong sales in recent months.
WGC also adds the industry consolidation in 2020 saw companies with more solid brand values and cash flows survive the crisis, effectively putting the industry in a healthier position. This, the report said, will benefit the Chinese jewellers due to the policy changes that will prioritise domestic consumption in 2021 as well as the coming years.
Moreover, traditional gold jewellery products performed strongly in 2020, and bridal jewellery and light hard-24-karat gold jewellery products were in continuous demand, with jewellers stocking up inventories, says the WGC report. 

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished