A leading platinum industry figure claimed yesterday (22nd January) that China's jewellery sales are likely to cope with the economic downturn better than those of Japan, Reuters reports.

James Courage, Chief Executive of industry-funded body Platinum Guild International, noted that the two countries account for 75 per cent of consumer demand for jewellery made from the precious metal.

However, he explained that the relative strength of the Chinese economy - it recently became the world's third-largest - means that it is in a superior position to its rival against the current global financial backdrop.

Mr Courage told the news provider: "If we speak as of the moment, China appears to be more resilient. On the economic side, they (China) haven't seen the same degree of downturn.

"Also as a share of the jewellery market, platinum has perhaps a greater share of the total market in China than it does in Japan."

Platinum jewellery is particularly popular among couples looking for engagement rings and Mr Courage added that the bridal market in both countries remains healthy, despite the deteriorating economic landscape.



Source:

INTERVIEW-China platinum jewellery market to weather econ woes (21/01/09)
http://af.reuters.com/article/commoditiesNews/idAFT36794420090121?pageNumber=2&virtualBrandChannel=0