Israeli diamond company, Avi Paz Group, has singled out China as a country that is emerging as a major player in the jewellery industry.

Boaz Mori, general manager of Avi Paz Fancy, the Hong Kong division of the diamond group, explains that China is the destination for "now" companies, because the marketplace is vibrant and growing at a fast pace.

The firm already has two offices in the region, based in Hong Kong and at the Shanghai Diamond Exchange, while it is also planning a third to be launched in Shenzhen by early 2008 at the latest.

Luxury items are becoming particularly popular with the nouveau riche of China, such as high-end jewellery made from precious metals including platinum.

"There are so many millionaires in China. I don't believe there is any one country like it," Mr Mori explained, reports Jewellery Net Asia.

Ÿ Adfero Ltd