Weddings Propel China to Second Largest Diamond Market

Branded jewelry stores, such as Amorosso, have attracted Chinese diamond jewelry buyers in growing numbers

Japan imported $575.86 million worth of polished diamonds in the first 11 months of 2009 while the U.S. imported $11.26 billion of polished during the same period.

“As the economy continued to develop in a stable manner, consumer demand for jewelry continued to grow, especially for diamonds for the wedding market," Xinhua said.

China's economy grew 8.7 percent in 2009, according to the news agency. China’s rapid growth stands at great contrast to the shrinking economies of most Western countries during last year. Japan’s diamond consumption has been steadily declining as the Japanese economy continues to struggle and consumers express a shrinking appetite for diamond jewelry.

China has a growing middle class, a very large population and a taste for Western luxury brands.

Local brides’ interest in diamond rings has been steadily growing in the past decade after De Beers invested heavily in marketing the trend to consumers. First popular in Beijing and Shanghai, the trend has spread to other major cities across China.