Monday, October 24, 2011

Israel's Diamond Exchange District To Be Replicated In China

Night view of the Diamond Exchange district and Ayalon freeway, Ramat Gan, Ramat Gan, Israel, Photo, Stock Image, Photograph
Night view of Israel's Diamond Exchange District
ynet -The Chinese city of Shenyang plans to build a model of Ramat Gan's Diamond Exchange District.

 A delegation from the Shenyang visited its Israeli twin city recently, and decided to build a similar diamond exchange in China.

The Chinese delegation was welcomed by Ramat Gan Mayor Zvi Bar, Israel Diamond Exchange President Yair Sahar and CEO Yair Cohen.

This is great news for Israel's economy:

In the past few years China’s economy – the second largest in the world, with production exceeding $3 trillion – has experienced double-digit growth.

China is the fifth largest jewelry consumer in the world, and over 250 million diamond jewelry pieces are sold there annually. If this trend continues, the Chinese market is set to replace the US market as the largest global diamond market.

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