Taking The Trade To New Dimensions
Jointly held by the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA) and hosted by the Shanghai Diamond Exchange (SDE) and the CCJP Diamond Manufacturers Association (CDMA), the 33rd World Diamond Congress was held at the Portman Ritz-Carlton Hotel in Shanghai from the 12th to the 15th of May. During the four-day meeting, over 200 senior industry leaders invited by the WFDB and IDMA attended in-depth meetings and exchanges over the current climate and future developments of global diamond industry.
In July 1947, the first World Diamond Congress convened in Antwerp, Belgium. Now, on a biennial basis the congress gathers together all membership associations in a member country to discuss and integrate a universally recognized framework of laws and guidelines, which ensures the fair conduct and sustained growth of the international diamond industry.
The 33rd World Diamond Congress also comprises the respective annual general meetings of the WFDB and IDMA. The proceedings covered include activity reports since the last congress, new committee member elections and new member country nominations.
“We are honored that Shanghai was selected by the WFDB and IDMA to host the 33rd World Diamond Congress and that the SDE and CDMA were appointed as the hosts.” says Mr. Lin Qiang, President of SDE, “The decision indicates that the development of the Chinese diamond industry has gained the attention and recognition of the international community. We hope that we can leverage this opportunity to facilitate a better understanding of the Chinese diamond industry for more and more of our global counterparts.”
With a population of 1.3 billion, China has great potential to become one of the world’s major diamond jewelry markets. After 20 years of dynamic development and accumulation, the Chinese diamond industry has grown into the second largest diamond cutting centre in the world after India, and the world’s fourth largest diamond jewelry consumer. The total volume of diamonds processed in China now reaches 6 to 6.5 million carats annually, valued at up to 1.5 billion dollars. With its’ premier cutting and processing technologies, China has also built its’ capacity as a first-rate diamond cutting industry.
The SDE is the only diamond import and export platform in China approved by the State Council, and has played an indelible role in the growth of the Chinese diamond industry, providing an equal, fair and safe exchange venue for domestic and foreign diamond traders. Since joining the WFDB membership in October 2004, the SDE has closely monitored developments in the international diamond industry. The Exchange has increasingly participated and cooperated in international diamond business at the highest level, and in so doing further boosted the development of the Chinese diamond industry.
According to Mr. Lin Qiang, “Since the establishment of the SDE, the number of members has grown from a starting quota of 40 to 211 at present. Our trading volume has increased dramatically in the past six years from 7.764 million carats to 199 million carats and our trading value from 157 million dollars to 1.07 billion dollars. We are confident that the SDE will become one of the diamond trading centres in Asia and even in the world in the near future.”
Currently located within the Jinmao Tower in the Lujiazhui Financial Zone, the SDE occupies two floors with an area of 5,422 square meters. 2009 will see the SDE move to its new offices in the China Diamond Trading Center located on Century Avenue in Pudong. The cap structure of the building has been finished and it will be fully completed at the end of 2008 with a total construction area of 49,000 square meters. With the completion of a brand-new diamond trading building, the SDE is set for future development on a grand scale.
In July 1947, the first World Diamond Congress convened in Antwerp, Belgium. Now, on a biennial basis the congress gathers together all membership associations in a member country to discuss and integrate a universally recognized framework of laws and guidelines, which ensures the fair conduct and sustained growth of the international diamond industry.
The 33rd World Diamond Congress also comprises the respective annual general meetings of the WFDB and IDMA. The proceedings covered include activity reports since the last congress, new committee member elections and new member country nominations.
“We are honored that Shanghai was selected by the WFDB and IDMA to host the 33rd World Diamond Congress and that the SDE and CDMA were appointed as the hosts.” says Mr. Lin Qiang, President of SDE, “The decision indicates that the development of the Chinese diamond industry has gained the attention and recognition of the international community. We hope that we can leverage this opportunity to facilitate a better understanding of the Chinese diamond industry for more and more of our global counterparts.”
With a population of 1.3 billion, China has great potential to become one of the world’s major diamond jewelry markets. After 20 years of dynamic development and accumulation, the Chinese diamond industry has grown into the second largest diamond cutting centre in the world after India, and the world’s fourth largest diamond jewelry consumer. The total volume of diamonds processed in China now reaches 6 to 6.5 million carats annually, valued at up to 1.5 billion dollars. With its’ premier cutting and processing technologies, China has also built its’ capacity as a first-rate diamond cutting industry.
The SDE is the only diamond import and export platform in China approved by the State Council, and has played an indelible role in the growth of the Chinese diamond industry, providing an equal, fair and safe exchange venue for domestic and foreign diamond traders. Since joining the WFDB membership in October 2004, the SDE has closely monitored developments in the international diamond industry. The Exchange has increasingly participated and cooperated in international diamond business at the highest level, and in so doing further boosted the development of the Chinese diamond industry.
According to Mr. Lin Qiang, “Since the establishment of the SDE, the number of members has grown from a starting quota of 40 to 211 at present. Our trading volume has increased dramatically in the past six years from 7.764 million carats to 199 million carats and our trading value from 157 million dollars to 1.07 billion dollars. We are confident that the SDE will become one of the diamond trading centres in Asia and even in the world in the near future.”
Currently located within the Jinmao Tower in the Lujiazhui Financial Zone, the SDE occupies two floors with an area of 5,422 square meters. 2009 will see the SDE move to its new offices in the China Diamond Trading Center located on Century Avenue in Pudong. The cap structure of the building has been finished and it will be fully completed at the end of 2008 with a total construction area of 49,000 square meters. With the completion of a brand-new diamond trading building, the SDE is set for future development on a grand scale.
The 33rd World Diamond Congress Organised by the Shanghai Diamond Exchange Concludes Successfully
