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January 17, 2014

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Diamond trading rises 12% to US$4.3b

Trade through the Shanghai Diamond Exchange rose 12 percent to US$4.3 billion in 2013, the exchange said yesterday.

About 80 million carats changed hands through the exchange last year, up 6.8 percent from the previous year.

The diamond trade in China suffered a drastic fall in 2012 but recovered somewhat in 2013 as domestic diamond consumption picked up and customs cracked down on smuggling.

The exchange in Jin Mao Tower, a landmark in Shanghai’s Pudong New Area, was founded in October 2000 and is the only venue in China authorized by the State Council to handle diamond imports and exports and to conduct trade.

As a member of the World Federation of Diamond Bourses, the exchange saw its membership grow to 364 at the end of last year.

 




 

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