Source: CCTV.com

05-10-2008 10:24

Shanghai could claim to be the most sparkling city in the country after more than 640 million yuan worth of jewelry went on display at the Jewelry Shanghai 2008. The exhibition opened at the New International Expo Center in Pudong Thursday.

A jade pendant is on display at the 2008 Shanghai International Jewelry Exhibition in Shanghai May 8, 2008. More than 400  domestic and foreign companies are participating in the event which opened Thursday. [asianewsphoto]

Jewelers from 22 countries and regions brought their valuable pieces to the show, taking up more than a thousand booths, and a record 23-thousand square meters of exhibition space. China's lowered import tax means big potential business for foreign jewelers looking to expand in the market. Chinese customers' appetite for jewelry is growing along with their spending power.

With the rapid development of its jewelry and diamond market, China has become the world's second-largest market for diamonds after the US.