Three major organisations recently launched a local diamond price list and price index specifically for the mainland Chinese market aimed at fostering transparency in the trade and protecting consumer rights. 

The China Diamond Price List and China Diamond Price Index was unveiled by the Shanghai Diamond Exchange (SDE), Gems & Jewellery Trade Association of China and National Gemstone Testing Centre (NGTC) on the sidelines of the 2021 International Jewellery Summit held in Shanghai on November 12. 

The first of its kind, the price list and index are based on China's national diamond grading standards and come in local currency. 

Industry stakeholders saw the need for this initiative since China is now the second largest diamond jewellery market after the US. China is also an important importer of polished diamonds. 

“Through the China Diamond Price List and China Diamond Price Index, NGTC is helping promote an open, transparent, sustainable and fair market environment for trade players and consumers,” commented NGTC.