Demand for platinum jewelry in China is showing no signs of slowing down, thanks to the booming wedding market and the stability in the price of platinum.

In the first half of 2009, platinum jewelry sales in the mainland rose by more than 400,000 ounces compared to the same period in 2008 “largely in response to lower platinum prices as well as the reduction on its premium over gold,” said Neville Nicolau, chief executive of Anglo Platinum, the world's largest producer of platinum.

Meanwhile, statistics from the Shanghai Gold Exchange reveal that the total volume of platinum sold in the first half of the year was up 81 percent over the same period last year. Accounting for much of the growth were jewelry sales especially of bridal rings, which were fuelled by the Chinese belief that 2009 is an auspicious year for getting married. The consumers’ increasing desire for platinum also helped boost sales especially during Chinese holidays, reported China Daily.

According to the China Wedding Registry, 10.5 million couples got married in 2008, a 10.6 percent increase over 2007. This year, it is estimated that 11.5 million couples will get married, a 6-percent growth over 2008, and in 2010, the figure is expected to rise to 11.82 million.

Grace Man, director of Platinum Guild International (PGI) China, commented: "These factors, together with the focus of PGI and the upbeat confidence of the industry, make us confident of the future development of China’s platinum jewelry industry."

Since 2000, China has been the world's largest consumer market for platinum jewelry.