The main factor determining the current state of the diamond market is the global financial crisis. The situation on the leading financial and stock exchanges is still fairly dramatic. The labour markets in the US, Europe and Japan are also not in the best shape. Under these circumstances the availability of credit for diamond market players has declined drastically.
Alexander Matveyev, Member of the Federation Council of the Russian Federal Assembly, First Deputy Chairman of the Federation Council Committee on Northern Territories and Indigenous Minorities, Mining Engineer, Academician of the Russian Engineering Academy, Doctor of Economic Sciences, Professor, worked as Chief of Industry Department of the Yakutsk Region Committee of the CPSU, Chairman of the Yakutia Planning Committee, Vice-President and First Vice-President of ALROSA.
Valery Vladimirovich Rudakov – chairman of the Board of Directors of CJSC Polyus, chairman of the Committee for precious metals and precious stones of the Chamber of Commerce and Industry of the Russian Federation. In 1999-2002 - Deputy Minister of Finance of the Russian Federation and head of the State Repository for Precious Metals.China Daily has reported that China's jewelry industry is facing unprecedented development opportunities and its prospects are rosy.
By 2010, 60 to 70 Chinese jewelry companies are expected to become well-known Chinese-brand product enterprises, Israelidiamond.co.il reported.
According to Sun Fengmin, Secretary General of the Gems & Jewelry Trade Association of China, total annual sales of jewelry in China will exceed $29.31 billion. By 2020, annual exports of China's jewelry are expected to exceed $12 billion.
Total sales of China's jewelry industry have exhibited an annual growth rate of over 15% in recent years. The annual growth rate for exports topped 20%.
Overall sales of China's jewelry and gems reached $24.8 billion in 2007.
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