Diamond mining company Rio Tinto reaffirmed its commitment to China's rapidly developing diamond industry at the 2010 China Diamond Conference, which took place in Shanghai from November 30-December 1.

Rio Tinto's General Manager for Sales and Marketing Jean-Marc Lieberherr took the podium at the conference and told participants that China was in a stage of accelerated growth that would change the face of the diamond jewelry market.

This year, China edged out Japan as the world's #2 consumer of diamonds after the US. While diamonds have not traditionally been central to the culture's long jewelry tradition, a growing middle class with expendable cash and exposure to Western influences have sparked an appetite for diamond jewelry, including diamond engagement rings.

Lieberherr noted that China's emerging middle class was an "ideal entry point for affordable diamond jewelry" and that the desire of Chinese consumers to "differentiate themselves through fashion and fashion jewelry" would drive future growth in retail diamond jewelry demand. Rio Tinto recently entered into a partnership with one of China's leading diamond jewelry retailers, Chow Tai Fook.