The jewellery industry in China is set to become the third biggest area of consumption for the country, with platinum playing a key role in the development of the market.

According to the secretary general of the Gemological Association of China, Sun Fengmin, the sector is becoming one of the important contributors to the growth of domestic demand and the national economy.

Whilst jewellery sales reached less than 10 billion yuan in the 1980s, last year saw sales of over 110 billion yuan.

Consumption for gold in the country now stands at 235 tonnes, making China the fourth biggest market of the precious metal.

In addition, China has the biggest market for platinum in the world and the biggest for diamonds in Asia.

Over two million people now work in the sector, which is thought to have been so successful due to better administration, production scale, brands cultivation and enterprise development.