Guangzhou Diamond Exchange Holds Successful First Rough Diamond Sale

(IDEX Online) – The Guangzhou Diamond Exchange (GZDE) said it held a successful first rough diamond sale on April 21.

The sale was held under the special policies granted by AQSIQ, the ministry in charge of Kimberley Process Certification Scheme in China, as well as Customs and other relevant authorities, the exchange said.

The GZDE provided carefully selected parcels of rough diamonds from international suppliers with 300 potential buyers viewing the goods over a period of two and a half days.

The GZDE said it had three selling modes for the rough goods, including allocation, negotiation and online auction. The parcels with high market interest were listed for online auction and saw strong demand, creating China’s first rough diamond auction sale.

"By virtue of GZDE’s rough diamond trading services, Chinese rough diamond dealers not only get convenient access to the international primary rough diamond supplies at the most preferential price, but also undertake transparent trading, thereby bringing new and innovative trading channels for the Chinese diamond industry which is the second largest in the world. The strong demand of the domestic diamond jewelry market and global suppliers are now well connected, traders said.

"Together with this open sale, GZDE hosted a business conference focusing on innovative service for diamond supply channels, processing technology and integrating a market-service system. Nearly 400 guests enjoyed the new perspective of industry development delivered by the senior representatives from the Diamond Processing Specialized Committee of Gems & Jewelry Trade Association of China, GZDE and other industry organizations."