Last year, Guangzhou Diamond Exchange Limited Liability Corporations (GZDE) publicized 81 batches of listed transactions and concluded 49 batches. Since starting diamond import/export business, GZDE had made 19 batches of diamond and jewelry imports/exports with a grand value of above 120 million yuan.

In July, 2015, Guangzhou Diamond Exchange Limited Liability Corporations (GZDE) was approved for establishment by Guangdong Provincial Government. GZDE, aiming at building a bridge linking domestic and international markets, will efficiently reduce transaction cost for the industry, enable diamond and jewelry enterprises to directly access semifinished and finished diamonds at international markets, easily roll out storage in bonded areas, goods exhibitions and transactions.

Last September, GZDE was approved by General Administration of Quality Supervision, Inspection and Quarantine for multiple imports and exports of semifinished diamonds, and in October, completed Guangdong’s first bonded import and exhibition of semifinished diamonds.

The customs and the entry/exit inspection and quarantine agencies established a joint work area for co-transaction of the issues on site. The entry/exit inspection and quarantine bureau makes import inspection and issues customs clearance bills to semifinished diamonds according to the Kimberley Process Certification Scheme(KPCS), and the customs verifies the customers clearance bills and releases them for going through the warehousing procedures. After completing the bonded import, sorting, transacting, and warehousing of the diamonds can be made in GZDE’s exhibition zone, and then bonded exhibitions and transactions can be further made out of the zone.

According to information from GZDE, GZDE’s membership of the international quality tracing system will further optimize the diamond trade environment, protect the international diamond quality tracing system and offer quality guarantee for diamond transactions. Meanwhile, GZDE has established business relationship with international major diamond companies and industrial associations. GZDE has signed cooperation agreements with Indian Gem and Jewelry Export Promotion Council, Antwerp World Diamond Center in Belgium and Israeli Business Alliance to continuously expand international goods supply channels and domestic procurement market.

Source: Translated from Invest Guangzhou, Jan. 20, 2017