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In China, diamonds soared in popularity at the beginning of the 21st century, making the country the world's second-largest diamond market.
21世纪初，钻石在中国大受欢迎，使中国成为了世界第二大钻石市场。
But now the allure of the gem is fading fast.
但现在，钻石的吸引力正在迅速消退。
Research from the Gems and Jewelry Trade Association of China shows the country's diamond market size plummeted 18 percent in 2022 compared with the previous year,
中国珠宝玉石首饰行业协会的研究显示，2022年，中国的钻石市场规模与前一年相比下降了18%，
the biggest drop since the Shanghai Diamond Exchange, the only legal channel for the import and export of rough diamonds in the Chinese mainland, was established in 2000.
这是自2000年上海钻石交易所成立以来的最大跌幅，该交易所是中国大陆唯一合法的毛坯钻石进出口渠道。
I Do, a Chinese diamond ring brand known for its celebrity marketing, filed for bankruptcy in January this year after closing 205 offline shops the year before.
以名人营销著称的中国钻戒品牌I Do，在去年关闭了205家线下门店后，于今年1月申请破产。
Meanwhile, Darry Ring (DR), another popular brand, estimated its half-year net profit fell more than 90 percent in 2023, according to the company's performance forecast released this July.
与此同时，另一个颇受欢迎的品牌Darry Ring（DR）今年7月发布的业绩预测显示，该公司预计，2023年其半年净利润将下降90%以上。
On Weibo, a trending story about a woman who bought a 10,000 yuan diamond ring in 2008, only to find it now valued at 10 percent of its original price when she tried to resell it this May,
在微博上，一名女子在2008年买了一枚价值1万元的钻戒，今年5月当她试图转售时，发现它的价格只有原价的10%，这件事随之成为了一个热门话题，
has been viewed more than 620,000 times and sparked heated debates about diamonds' inflated prices.
浏览量超过了62万次，并引发了关于钻石价格膨胀的激烈讨论。
Besides newlyweds, white-collar women also constitute a significant target demographic for diamond brands.
除了新婚夫妇，白领女性也是钻石品牌的重要目标人群。
With China's urbanization and economic growth, more women have achieved financial independence,
随着中国的城市化和经济增长，越来越多的女性实现了经济独立，
and buying a diamond brooch or earrings for themselves has become not only a display of one's fashion taste but an expression of self-love.
给自己买一枚钻石胸针或耳环，不仅是一种时尚品味的展示，也是一种自爱的表达。
However, with marriage rates plummeting and an economic slowdown brought on by the pandemic, Chinese consumers are becoming less willing to part with big sums of cash for luxury items.
但随着结婚率的下降和疫情带来的经济放缓，中国消费者越来越不愿意为奢侈品花费大笔现金。
Less willing to spend on expensive diamonds, many young couples are returning to tradition and opting for gold again.
许多年轻夫妇不太愿意在昂贵的钻石上花钱，转而回归传统，再次选择黄金。
For those who still favor diamond rings for their ceremonial subtext, lab-grown diamonds—indistinguishable from natural ones to the untrained eye—are a cheaper alternative.
而对于那些仍然喜欢钻石戒指作为仪式感的人来说，实验室培育的钻石--对未经培训的人来说根本无法区分与天然钻石的区别--就成为了一个更便宜的选择。
According to the Gems and Jewelry Trade Association of China, the country's annual production capacity of lab-grown diamonds is 9 million carats, accounting for about 40 percent of global production.
根据中国珠宝玉石首饰行业协会的数据，中国实验室培育钻石的年产能为900万克拉，约占全球产能的40%。
Meanwhile, China's demand for lab-grown diamonds has grown significantly from 5 million yuan in 2014 to over 1.36 billion in 2022, further driving down prices for natural diamonds.
与此同时，中国对人造钻石的市场容量从2014年的500万元大幅增长到2022年的13.6亿元，进一步压低了天然钻石的价格。
