From 19th-25th April, Guangzhou Diamond Exchange held a Rough Diamond Tender in Panyu, Guangzhou, using international adopted trading mode as of Dubai and Antwerp. More than 230,000 cts (46 kg) of rough diamond mined from Africa has been on tender, attracting around 200 industry experts from nearly 50 companies. It turns out that all parcels have been successfully transacted, reaching a close rate of 100%, a transaction amount of near 6 million USD and import & export value of around 11 million USD.
The tender has marked itself as first time achievements for domestic industry in 4 aspects: The first international diamond tender taking advantage of the innovative policies of China Pilot Free Trade Zone; The first large scale run of mine tender covering all types and sizes of rough mined from the origin; The first synchronized global tender based on internet; The first time to realize China’s right to speak in international rough diamond pricing system. To sum up, the tender brought about an international diamond trading fair to buy and sell globally for domestic and oversea companies, marking Guangzhou's accession to the world's diamond resource allocation cites.
Ever since September 2016 when Guangzhou got the approval from national ministry to carry out various trading modes including rough diamond bonded trade through Guangzhou Diamond Exchange, the policy innovation of China (Guangdong) Pilot Free Trade Zone together with the advantage of developed jewelry industry in Panyu Guangzhou has been further practiced and fulfilled in international diamond trade. With the continued innovation in customs inspection, foreign exchange settlement, business and trade, as well as logistics services, Guangzhou Diamond Exchange vigorously promotes the cultivation of modern diamond industry, the construction of industry ecosystem and the optimization of supply chain, resulting in a normalization and internationalization diamond trading business.
The tender carried out a new concept of development and a creative trading mode, attracting global diamond dealers to participate in the bidding of first hand run of mine from international mining country. The supplier, Société Anhui-Congo d’Investissement Minier, is a joint venture of Chinese enterprise and the government of the Democratic Republic of the Congo. The strategy of Going Out in developing mineral resources overseas has facilitated the African origin rough diamond transacted through China’s trading platform in Free Trade Zone, and then distributed all over the world. China’s active participation in globalization and diamond resource allocation power has been significantly improved.
Though China is the second largest diamond consuming market in the world, the first hand rough diamond trades are mostly taken place in Antwerp (Belgium) and Dubai (United Arab Emirates). As the first international trading fair held in China covering gem quality and industrial rough diamonds, the tender adopted online bidding system synchronized globally, best realized the value and discovered the price. The volume of total transaction has exceeded expectation, with the overall price reaching international level and comparable to the transaction records in Dubai. Relying on the huge domestic market, the tender has made important breakthrough in stimulating the development of international commodity distribution centre, information centre and price formation centre. For the first time, China has made its voice heard in international rough diamond pricing system.
Diamond is a reflection of people's yearning for a better life. However, China is lack of diamond resources. For many years, China’s diamond industry is highly dependent on polished diamond supply from abroad, lacking power in resources allocation. With first hand rough diamond resources, the tender provided convenient and effective supply for China’s diamond companies, helping them to extend upwards in industry chain, to get a more comprehensive insight into global diamond market and to expand profits. China’s rough diamond foreign trade has also upgraded from the simple processing trade with resources and orders both coming from abroad, into a medium to high level international trade with resource distribution capabilities. China's diamond industry has welcomed the new growth point of sustainable development in the modern supply chain on the supply side.
With its big success, the tender has implemented the requirements on supporting the optimization and upgrade of traditional industry, accelerating the development of modern service industry, international benchmarking, and promoting China's industry stepping into the high end of the global value chain emphasized in the 19th CPC national congress. It also demonstrated the international trading mode of Buying and Selling Globally, transferring signals of stable supply with Selling and Buying Capability and transaction cost reduction.
China’s door of opening up is opening wider and wider. With a developed diamond industry, Guangzhou has just become an international diamond resources allocation city, which will promote international diamond resources distributing globally through China’s free trading platform, facilitating international diamond trade integrating into China’s new pattern of open up, and to create new opportunities for China’s diamond industry to participate in international diamond distribution and upgrade.
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