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Global audiences sighed in admiration at November media reports showing British royal fiancée Kate Middleton's extravagant engagement ring. But on the other side of the world, Chinese manufacturers saw a golden business opportunity. Factory owners in the eastern Chinese city of Yiwu say replicas of the ring are selling fast.
If you took a fancy to the blue sapphire and diamond-studded royal engagement ring sported by British Prince William's fiancée Kate Middleton, why not own one yourself?
For about 50 U.S. cents you can get a strikingly similar piece made of acrylic and metallic alloys, while an extra $7 dollars will get you a much flashier item made of zircon and silver-coated copper.
Chinese jewelry manufacturers such as Zhou Mingwang thought the rings would be a hit with consumers when they saw media reports of the pair's engagement last November. Now these royal replicas are flying off the shelves.
They are a far sight cheaper than the estimated £30,000 pound value of the original, with orders coming in from the United Kingdom, United States and Western Europe.
[Zhou Mingwang, Mingwang Jewelry Factory Owner]:
"When they announced their engagement, it was just by chance that I saw their ring on the Internet. I felt that this thing has a great commemorative value, so at that time I thought there was a good market for the product."
Manufacturers like Zhou Mingwang are located in the eastern Chinese city of Yiwu in Zhejiang Province, the world's largest wholesale market for small commodities.
Mr. Zhou says his factory makes minor alterations to the size or design to avoid trademark issues.