Shanghai Diamond Exchange
Shanghai Diamond Exchange (SDE) was authorized to set up by China’s State Council in October, 2000 as a factor market and the only channel for the import and export of diamond in China. SDE has been operated in compliance with the recognized practices of international diamond industry, providing a fair, just, safe transaction venue with closed-door management for the world diamond dealers.
SDB is a member of the World Federation of Diamond Bourses (WFDB), and has a permanent seat in itsexecutive board made of seven people. SDE President Mr. Lin Qiang is the current Vice President of the WFDB.
In October 2009, SDE was moved from Jinmao Tower into the new China Diamond Exchange Centre building that covers a total floor area of 49,000 square meters. Itis a special venue supervised by the Customs as a bonded zone. SDE provides “one-stop” services to its members with the settled Customs office, the Diamond Administration Office, the Bureau of Industry and Commerce as well as the Taxation Bureau. The institutes in the SDE building such as bank, transportation escort and security, Customs declaration and diamond appraisal laboratory also provide the supporting services.
By the end of 2020, SDE has 370 members, and 54% of them are foreign invested companies. SDE members enjoy taxation preferential policies. All the diamonds into and out of the venue are free of tariffs. The Customs collect 4% import VAT on the polished diamonds sold to the Chinese domestic market through SDE instead of the original 13%. By building strong relationship with global diamond centers and supporting major events of the jewelry industry, SDE has created tremendous business opportunities for its members.
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Mr. BAO Shuyi