Demand for platinum jewellery in China is expected to be strong in the second half of 2009, according to a new report by China Daily yesterday (26th October).

The precious metal is traditionally favoured by consumers as a high-end choice for engagement and wedding rings, plus for those looking to give jewellery as a gift.

According to figures from the China Wedding Registry, 10.5 million couples tied the knot in the country in 2008, representing a 10.6 per cent increase on a year-on-year basis.

However, 2009 is viewed as an auspicious year for marriage - as the number nine stands for 'forever love' - and the total number of weddings is expected to hit 11.5 million.

Grace Man, Director of Platinum Guild International (PGI) China, explained that the combination of this trend and stable platinum prices will maintain demand for the rest of the year.

"These factors, together with the focus of PGI and the upbeat confidence of the industry, make us confident of the future development of the platinum jewellery industry in China," she told the news provider.

The PGI conducted a market survey recently which targeted 93 retail stores in 32 cities and found that platinum jewellery sales over the May Day holiday were up by 27 per cent.

China has been the world's largest consumer of pieces crafted from the precious metal for the past nine years.

Source:

Platinum jewelry demand is rising (26/10/09)

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