Chinese diamond market catching up with US - De Beers

In a video interview with London's Financial Times, he said at that stage, China, including Hong Kong, would account for one-third of global demand for the precious stones as diamond engagement rings grow in popularity there."What we're now seeing, with China growing as rapidly as it is, [is] annual double-digit growth compounded over a period of five years," Penny told the Financial Times.

"We think you'll see greater China, including Hong Kong, at not dissimilar levels overall [to the US]...about a third of world demand in about ten years' time."