As JNA celebrates its fourth decade, we look back at 40 of its stories that kept the industry abreast of major developments in the international gemstone and jewellery trade. Here is the third instalment of this special series.

Reported by Jewellery News Asia: 1996 - 2003

21. China to regulate industry
JNA December 1996

To help regulate the jewellery industry and protect consumer interest, the Chinese government in 1996 decided to implement its first national standards for nomenclature and identification of diamonds and coloured gemstones and standards for grading of diamonds. The new regulations took effect on May 1997.

22. Philippines hosts first international jewellery fair
JNA July 1998

Following the signing of a landmark jewellery bill, the Philippines hosted its first international jewellery fair, Jewellery Philippines 98, from December 10 to December 13, 1998. Organised by the Guild of Philippine Jewellers, the fair was expected to have attracted over 80 domestic exhibitors and 150 vendors from 12 countries, and more than 5,000 trade buyers.  

23. De Beers offers millennium diamonds
JNA February 1999 

Limited-edition diamonds bearing De Beers’ millennium diamond logo and a serial number were offered to retailers as part of a global marketing strategy to usher in the new millennium. A limited number of diamonds from 1 carat to 2 carats were hallmarked by De Beers. According to De Beers, diamonds were already around during the first millennium so they perfectly symbolised future hopes and dreams.

24. Shanghai to set up diamond trading centre
JNA April 2000

China gave the go signal to establish a diamond trading centre in Shanghai in 2000 to facilitate the country’s booming diamond trade. The centre was envisioned to have an international diamond exchange (later named Shanghai Diamond Exchange), joint management office, and diamond and jewellery traders as well as companies offering related services.

25. GIA launches emerald grading service
JNA July 2000

The Gemological Institute of America has introduced an emerald grading report bearing the description of the extent of clarity enhancement detected in a stone alongside a digital colour image. The innovative service also provided state-of-the-art security and standard identification information of emeralds. 

26. Diamond Congress bans conflict diamonds
JNA September 2000

The battle against conflict diamonds reached a milestone with the passing of a set of resolutions by the international diamond trade at the World Diamond Congress in Antwerp, Belgium in 2000. The resolutions sought to curb the trade of conflict diamonds by developing and implementing a series of control mechanisms and creating a chain of invoices and warranties tracking diamonds from mine to trading centres. The World Diamond Council was also formed during this edition of the Congress. The Kimberley Process was likewise established in 2000 by Southern African diamond producers specifically to stem the flow of rough diamonds used to finance armed conflict.

27. Trade deregulation in China set to boost export sector 
JNA November 2001 

China’s accession to the World Trade Organization or WTO and more importantly, the imminent deregulation of the national gold trade were expected to bring about a rapid growth in the country’s jewellery sector, especially jewellery exports. The abolition of a licensing system for gold-related enterprises was also seen to encourage the establishment of more jewellery companies in the country.

28. Jewellery trade in post-SARS era
JNA July and August 2003

Weeks after China, Hong Kong and Singapore successfully contained the SARS outbreak in 2003, gemstone and jewellery traders in the region reported business steadily improving. The jewellery retail business slowed down significantly at the height of SARS in March to May 2003, with the lack of local and tourist consumption. By June however, the sector started seeing signs of improvement as buyers and sellers attended the Hong Kong Jewellery & Watch Fair in Hong Kong – the first post-SARS trade fair, organised by CMP Asia (now Informa Markets).

29. Hong Kong-made jewellery to enjoy zero tariffs in China
JNA July 2003

Hong Kong goods, including jewellery and watches, are set to enjoy zero import tariff duty in mainland China under the Closer Economic Partnership Agreement or CEPA between Hong Kong and China. At the time, over 90 per cent of Hong Kong jewellers had their production facilities in China and 100 per cent of their production was being exported. 

30. Canada chairs Kimberley Process
JNA December 2003

Canada was appointed chairman of Kimberley Process (KP) in 2004, taking over the KP leadership from South Africa. The Kimberley Process –an international certification scheme that regulates trade in rough diamonds – was founded in 2000 in South Africa by diamond-producing countries. The Kimberley Process Certification Scheme, which outlines the rules that govern the trade in rough diamonds, was established in 2003.

Read the first ; second and fourth instalments of JNA’s top 40 stories in the last 40 years.

Click here for JNA’s 40^th Anniversary special features.