An abridged version of this article first appeared in the JNA May/June 2023 issue.

In many ways, Lin Qiang revolutionised the trade of diamonds in China. One of the founders of the Shanghai Diamond Exchange (SDE), the only official platform for the import and export of diamonds in China, he started working towards its establishment in 1997 and has been its president since its official launch in October 2000.

Throughout his tenure, Lin has devoted himself to reforming China’s diamond tax and management policies according to international regulations and standards, and achieving market integration.

Surmounting several challenges, he successfully aligned the country’s domestic diamond market with the global diamond trade, creating an inclusive, business-friendly platform for diamond trading in China under a favourable tax policy. Today, SDE is one of the major diamond bourses in the world.

International stature

Lin sees great value in an international dialogue of culture and ideas. In 2018, he became vice president of the World Federation of Diamond Bourses (WFDB) and was re-elected to the post in 2020.

“We are committed to international cooperation and strive to build a community with a shared future. I ran for the post of WFDB vice president not for my own selfish interests but out of my obligation to help China have a say in the international diamond industry,” Lin disclosed.

Also in 2018, Shanghai was identified by the WFDB Charter as the world’s fifth largest diamond trading centre, according to Lin. He notes that the honour was bestowed on the city of Shanghai, rather than the SDE, as a sign of support and encouragement from the world diamond industry for the healthy development of China’s diamond market over the years.

“Although SDE is still not a big player in terms of economic volume and financial services, it is one of the most influential and internationally diverse organisations in the diamond industry. It is bound to become a hub or a bridge, through which the global diamond supply chain and value chain can be integrated in the future,” Lin said.

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