Platinum Guild International (PGI) has predicted that the platinum jewellery market in China will thrive in 2009 after adapting to declining prices in 2008, China Daily reports.

According to figures from the Shanghai Gold Exchange, platinum purchases in China - which has been the world's largest platinum jewellery market since 2000 - were up 16 per cent year-on-year in 2008.

Now the PGI has claimed that the underlying love that Chinese consumers have for the white metal, plus a number of fiscal policies issued by the government, will ensure a productive year.

Grace Man, Director of PGI China, told the news provider: "As the world's largest market for platinum jewellery, China has experienced steady and rapid development in terms of both market scale and industry growth over the past decade.

"Faced with a turbulent market situation in 2008, China's platinum jewellery industry adopted timely and effective measures, showing the overall strength of China's jewellery industry."

Mr Man added that other factors, such as a stabilising price, a growing wedding market and the combined efforts of everyone involved in the industry, will all contribute to the success.

A recent survey by Oracle Added Value showed that 75 per cent of brides and 68 per cent of grooms interviewed indicated that they would be selecting platinum jewellery for their weddings.



Source:

Forecast: China's Platinum Jewelry Market to Grow in 2009 (25/02/09)
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