Luxury goods in China are set to take off as the industry benefits from massive growth in the Chinese economy and the existence of a population with money to spend.

Jewellery Net Asia reports that the boom in the Chinese economy is set to boost the demand for high-end goods such as jewellery, while it is thought that the US jewellery sector would be keen on exploiting this market.

Jewellery retailers in the US could benefit from the US government's efforts to urge more Chinese consumers to spend larger amounts of money, in an effort to tackle the growing trade deficit between the two countries.

The jewellery trade looks set to be a major beneficiary of the growth in consumer spending in China, as high-end luxury goods are proving to be attractive to the Chinese consumer.

One example of this growth has been demonstrated by Shenzhen Avanti Jewellery, which has launched a line of high-precision wedding rings using a computerised numerically controlled (CNC) technique.

The arrival of the technology demonstrates the move in the Chinese market into a more mainstream demand for luxury goods and the demand for a variety of jewellery items, including pieces in platinum, is continuing to grow at a fast pace.

Sources:

China ring maker targets mid- to high-range markets, 14/06/07
http://www.jewellerynetasia.com/industry/newsdetails.aspx?lang=0&vortalid=1&newsidinvortal=6770&ct=&cn=NewsAll&m=07&y=2007&ch=0

Nurturing China, 29/06/07
http://www.jewellerynetasia.com/industry/newsdetails.aspx?lang=0&vortalid=1&newsidinvortal=6821&ct=&cn=NewsAll&m=07&y=2007&ch=0

Education will further open Chinese purse strings, 28/06/07
http://www.jewellerynetasia.com/industry/newsdetails.aspx?lang=0&vortalid=1&newsidinvortal=6821&ct=&cn=NewsAll&m=07&y=2007&ch=0

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