China's demand for Persian tapestry hits $3 billion

China may become one of Iran's biggest markets for Persian carpets and tapestries, with estimated current demand of roughly $3 billion, said Mohammad Alikhani, head of the Iran National Carpet Center, at an exhibition in Shanghai on Tuesday.

Demand for Persian tapestries and carpets in China has been increasing rapidly in recent years as the number of affluent people in the country rises, said Seyed Mohammad Hadi Sobhani, Iranian consul-general to Shanghai, at the industry conference.

Persian carpets and tapestries are widely known for their longevity and are often made with silk or wool. Pigments are extracted from plants instead of chemicals, said Alikhani.

Persian carpets and tapestries are investment goods. The price of a carpet may grow five-fold within a couple of years, said Alikhani.

Roughly 17 enterprises from Iran have been displaying their Persian carpet and tapestry collections at the Shanghai New International Expo Center to expand sales in Shanghai and perhaps across the country.

Prices of the carpets at the exhibition range from 4,000 yuan ($645) to 1.5 million yuan. The exhibition runs through March 28.