(Yicai Global) March 11 -- China's diamond market is fast returning to pre-pandemic levels and prices of small diamonds in particular have jumped up to 50 percent in recent months, CCTV reported yesterday, citing several jewelry company bosses.

Small diamonds under one-third of a carat and melee diamonds, or a cluster of tiny diamonds, are selling very well as consumers shift their preferences from wearing the precious stone as everyday accessories rather than statement jewelry, the execs said.

Demand is outstripping supply, said Wu Tao, chief executive officer of a gemstone store in Shenzhen. Prices have risen by between 45 percent and 50 percent recently, he added.

A wedding boom in the second half last year, when many couples who were unable to get married in 2020 due to the pandemic finally tied the knot, also saw a recovery in sales of diamonds above one carat.

Orders for diamonds of one carat or heavier have risen 30 percent this year from last year to around 1,300 pieces a month, said Chang Yaoqing, chairman of a jewelry company in Shenzhen.

Editor: Kim Taylor