MARKET INTELLIGENCE 市场情报 54 | JNA July/August 2024 Asia is a key market for rubies, with China as a consistently strong performer. According to some dealers interviewed by JNA, Burmese rubies were highly coveted in China, but there were not enough gems in the market to meet soaring demand. The discovery of Mozambique ruby deposits in Africa in 2008 eased supply challenges, further fuelling the growth of China's ruby trade. As China's upper-class segment continues to grow and consumer preferences evolve, rubies have risen to become a highly desired coloured gemstone among discerning buyers in recent years. Beloved red The cultural significance of rubies has made them extremely appealing to Chinese consumers. In Chinese culture, the colour red symbolises luck, celebration and prosperity. Ruby’s vivid and mesmerising tones naturally align with these cultural notions. China is the main market of Thailand-based gemstone manufacturer and wholesaler World Corundum Co Ltd. General Manager Tarnan Pattaratara explained, “The Chinese market is unique as people prefer very rare gems of fine quality. Unheated stones are always in high demand.” Majority of Chinese buyers mainly seek bright reds while pinkish-red or medium-colour variants are less popular, added Pattaratara. Kiefer Tang, CEO of PN Gems (HK) Co Ltd, agreed, adding that Chinese buyers prioritise colour over other factors such as cut, clarity, brilliance and size when purchasing coloured gemstones. “They are quite meticulous when it comes to colour,” he said. This indicates sparkling potential for rubies in the Chinese market, added Pattaratara. “Buyers will have more options for purchase once they have a better understanding of the wide colour spectrum and varieties of ruby in the market, ranging from deep red to light pink,” he noted. UNLOCKING POSSIBILITIES IN CHINA'S RUBY MARKET 打开中国红宝石市场的无限可能 | Sharon Kwok 郭芷雯 | The ruby market in China is poised for growth, driven by cultural affinity for the beloved red gem, untapped consumer segments and enhanced education and consumer awareness. 中国的红宝石市场增長潛力可观，人们對這種红色宝石的文化 偏好、尚未开发的消费群体，以及教育和消费者意识的增强，都有助推動發展。
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