China's Diamond in the World Market

China becomes the biggest producing country of synthetic diamond in the world. China's output in 2010 is in excess of 7 billion carats. The yearly average increase rate is nearly 20% for the last 10 years. It almost accounts for 90% of the world's production. China's diamond is exported to 58 countries and regions in 2009. The yearly average export increase rate is about 30% for the last 10 years. Two main reasons supported such growth: 1) Continuous improvements made to the diamond synthesizing technology and as a result quality becoming better and better and to a large extend Chinese diamond is close to or equal to those made by her Western counterparts in terms of quality. 2) Competitive prices. The average price is only about $0.05 per carat in 2009, making it irresistible for world users to turn to Chinese diamond. Diamond producers in the Western countries turn to produce more profitable products like PCD & PCBN. This paper delivers some key statistics of Chinese diamond output and export in the last 10 years; it also highlights the diamond import in USA and Japan. The USA is the biggest consumer of China's diamond. The supply & demand pattern for synthetic diamond is very much different from what it used to be 10 years ago. All these facts are further illustrated by the 10 figures and 1 table in this paper.