For centuries, diamonds have been synonymous with luxury, shortage and geological time: a jewel that nature carries over one billion years underground. Now China has found a way to reduce times and create the perfect diamond.
Made in China. 70% of synthetic diamonds Used in worldwide jewelry they are already manufactured in China, especially in the province of Henan. In a Financial Times report They have explained That companies like Jiaruifu, led by Feng Canjun, have managed to manufacture a three carat diamond – the typical size of a engagement ring – in just a week.
But it is synthetic. Yes, but its irruption has meant an unprecedented disruption in the market of precious stones. As explained by Marty Hurwitz, director of the Grown Diamond Trade Organization, to the British environmentthis is “the first really competitive product that the natural diamond has faced.” And he has done it with devastating consequences: the prices of smaller natural diamonds have fallen to minimums of the last decade.
According to data from the Tenoris consultantsynthetic diamond already represents 17 % of the volume of the retail market in the US, and more than half in commitment rings, a key category.
60 years of improvement. After the break with the USSR in the 60s, Beijing was forced to develop its own production capacity. As New York Times collectedthe Soviets used diamonds not only as raw material but as a diplomatic and economic weapon. Given that pressure and without relevant natural reservations, China opted for the technological and long -distance path: produce its own laboratory diamonds. What was born as a geopolitical survival strategy has become a globally dominant industry today.
The creation process. As have detailed in FTcompanies such as Jiaruifu mainly use two methods: high pressure-high temperature (HPHT) and chemical vapor deposition (CVD), the latter most recent and effective for large gems.
In addition, efficiency is not just technique. The carving process is subcontracts to India, where labor costs are lower, and transport is carried out through hubs such as Dubai or Antwerp, although on the label of the final product there is no trace of its Chinese origin.
There is another differential. China does not stay with crossed ones as soon as it has a fixed goal, we have already observed that its plans are never in the short term, we can observe it in Your plans with oil. As detailed The Huanghe Whirlwind company are also making improvements in the diamond creation process, but they wanted to bet on a more sustainable model. In this project they have managed to integrate solar energy into their manufacturing process. This innovation not only drastically reduces the carbon footprint by quilate, but also positions China as a pioneer in “green” synthetic diamonds.
A dramatic turn. The traditional natural diamond industry is in check. In 2024, by Beers – the historical giant of the sector— It accumulated an inventory of non -selling diamonds valued at 2,000 million dollars. Its synthetic diamond division, Lightbox, He closed recently After losing competitiveness in front of Chinese brands.
To this is added a cultural change: younger consumers no longer demand natural diamonds, and many prioritize price and sustainability. As He has revealed British designer Fei Liu to the Financial Times, at first he resisted using synthetic stones, but the price “flew his head.”
Another conquered sector. Beyond technological and commercial success, synthetic diamond is becoming a new strategic front for China. The Government has not left the market to operate freely: in Henan, the Provincial Administration has promoted the creation of a diamond association with the aim of stabilizing prices and avoiding a destructive career down. As He explained Feng Al Financial Times, a minimum price of $ 15 per caa has been set for the stones between one and ten carats. If a company sells below that threshold, its competitors can report it to the authorities, which will intervene.
This policy reminds the strategy adopted in the electric car sector, another field in which China He has led technologicallybut where excess supply and fierce competition also caused price wars. In both cases, Beijing has sought to impose order in sectors considered key to industrial sovereignty and the country’s geopolitical positioning.
Compressing times. In that process, the Asian giant has challenged a centenary industry, has democratized luxury and has drawn a new map for the global diamond trade. What was previously a symbol of rarity and eternity, today can be produced in mass, sold at a low cost and with a minimum ecological footprint. The diamond is no longer what it was. And it is very possible that, for most consumers, that is not necessarily a bad.
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