The crisis in China’s real estate industry is becoming increasingly severe. Problems such as deflation and low investor optimism make the Chinese authorities extremely anxious. At the same time, sales of natural diamonds in the Chinese market have declined significantly. According to WWW International Diamond Consultants, the price of natural polished diamonds fell by 18% last year due to decreased demand in China. Nikunj Haresh Dobariya of diamond wholesaler Zuri based in Hong Kong said that demand for natural diamonds in China has dropped by 50% compared to pre-pandemic levels. He told the Financial Times that “Right now it’s very difficult” to do business in China.
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50% Drop in China’s Diamond Sales as Homes, Weddings Unaffordable, Half Choose to Stay Single
