The Guangzhou Diamond Exchange (GZDE) has just concluded its first rough diamond sale, comprising carefully selected parcels of rough from a numberof well-known international suppliers.

This follows the special permissions granted by AQSIQ (the ministry in charge of Kimberley Process Certification Scheme in China) and those from the Customs and other relative authorities, for such sales.

Announcing the completion of this milestone, the organisation said that the sales came at the end of two and a half days of viewing during which hundreds of buyer-dealers inspected the goods which were for sale.

Transactions were carried out through three modes, GZDE reported including allocations, negotiations and online-auction. The parcels that generated maximum interest among buyers were all sold through the auction process, the exchange said.

The commencement of rough diamond trading services in GZDE will make it easier for Chinese rough diamond dealers to directly access international primary rough diamond supplies. It will also help in development of new trade channels for the Chinese domestic diamond jewellery market, GZDE stated.

Alongside the sales, GZDE also hosted a business conference themed as “Innovative Supply, Vigorous Upgrade”, it said. The event focused on innovative service for diamonds in supply channels, processing technology and an integrated market-service system, GZDE added. Nearly 400 delegates attended the sessions which were addressed by senior representatives from the Diamond Processing Specialized Committee of Gems & Jewelry Trade Association of China, GZDE, Guangdong Gems and Jade Exchange, Delta TAU, Sarine Technologies Ltd., China Gold Newspaper and some other organisations from the industry.