Login

Reload

Remember me Forgot it?

Not a subscriber?

Click on the button below to create your account and get immediate access to Xinhua Silk Road Database.

Start a Free Trial

Subscribe

Belt & Road Weekly Subscription Form

Research Report

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

companies

HOME > Company


Russia diamond giant CEO expects long-term cooperation with more Chinese partners

September 12, 2018


Abstract : Russia’s top diamond producer Alrosa hopes for long-term partnerships with more Chinese partners amid the rapidly growing China jewelry market, said Sergey Ivanov, the company CEO in an interview.

BEIJING, Sept. 12 (Xinhua) – Russia’s top diamond producer Alrosa hopes for long-term partnerships with more Chinese partners amid the rapidly growing Chinese jewelry market, said Sergey Ivanov, the company CEO in an interview with Xinhua.

As one of the world’s largest diamond producers, Alrosa has forged long-term cooperation with six large Chinese jewelry sellers and the turnover under long-term contracts jumped 18 percent in 2017, Ivanov said.

The CEO of the world's leading major diamond producer noted that growing middle-class households along with China’s prospering economy generated robust demand for high-end products such as jewelry. 

Statistics show that jewelry demand in Asia-Pacific region expanded 11 percent in the first quarter, driven mainly by demand from the Chinese mainland and Hong Kong.

Ivanov stated Alrosa pinned high hopes on the China market as sales performances of its Chinese partners this year also proved ballooning demand for jewelry in China.

According to the company’s survey of about 4,000 Chinese and U.S. consumers aged 25-55 years old in 2017, 86 percent of Chinese consumers plan to buy at least one diamond jewelry this year, while U.S. consumers having the same intention account for only 59 percent.

Alrosa tried for the first time direct settlement in Russian rouble with its Chinese partners last year, which largely shortened and simplified the entire settlement process, Ivanov disclosed. (Edited by Duan Jing, duanjing@xinhua.org)


Related Coverage

Focus

Think Tank

  • The Chinese Race to Artificial Intelligence

    August 10, 2018

    China is no longer just a manufacturing power, but a technologically advance...

  • Made in China 2025 and the Belt and Road Initiative

    August 10, 2018

    The industrial policy of “Made in China 2025” clearly focuses on innovatio...

  • Trump cannot push back China with $113m

    August 8, 2018

    Although the “Belt and Road Initiative” has caused some worries and rebou...

  • Beijing’s maritime gifts

    August 7, 2018

    Beijing seems to be strengthening its capacity building at sea.

  • Ask Us A Question

    If you have any questions, please enter them in the box below.

    Reload

    Write to Us

    Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

    Click on the button below to create your account and get imhttp://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

    Start a Free Trial