BEIJING, March 17 (Xinhua) -- The artificial diamonds, a new type of jewelry usually made in labs or factories, has become a new focus during the China International Jewelry Fair opened in Beijing on Thursday, attracting a large number of audiences, reported China Securities Journal.
In recent years, technology on producing artificial diamonds has advanced by leaps and bounds in China. The average price of artificial diamonds is about one-tenth that of natural diamonds with the same quality grade, exhibitors said.
Artificial diamonds equal all of the essential qualities of natural diamonds, only their origin is a laboratory instead of the nature, said a sales assistant of Ningbo Crysdiam Technology Co., Ltd.
With increasing consumer recognition, the lab-grown diamonds are shaking up the world of fine jewelry and relevant companies are full of confidence for the future market development.
Some Chinese listed companies in jewelry industry, including Guangdong CHJ Industry Co., Ltd. (002345.SZ) and China National Gold Group Gold Jewellery Co., Ltd. (600916.SH), have recently expressed their willingness to actively promote the lab-grown diamonds business.
According to the research institute of Sinolink Securities, the global production capacity of artificial diamonds was about 18.53 million carats in 2022. Among them, China produced 8.26 million carats of diamonds, accounting for 40 to 50 percent of the global output.
At present, a large part of the artificial diamonds are exported abroad. With China's mature diamond-making technology, the domestic market will be further opened as consumers gradually learn more about the diamonds of this kind, said exhibitors.
(Edited by Gao Jingyan with Xinhua Silk Road, gaojingyan@xinhua.org)
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