JWA 2021 Jewellery Industry Best Practices

14 | Jewellery World Awards 2021 Shanghai Diamond Exchange (SDE) was authorised to set up by China’s State Council in October, 2000 as a B2B marketplace and the only channel for the import and export of diamonds in China. SDE has been operated in compliance with the recognised practices of international diamond industry, providing a fair, just and safe transaction venue with closed-door management for the world diamond dealers. SDE is a member of the World Federation of Diamond Bourses (WFDB), and has a permanent seat in its executive board made of seven people. SDE President Mr. Lin Qiang is the current Vice President of the WFDB. In 2009, SDE was moved to the new China Diamond Exchange Centre building that covers a total floor area of 49,000 sqm. It is a special venue supervised by the Chinese Customs as a bonded zone. SDE provides “one-stop” services to its members with the settled Customs Office, the Diamond Administration Office, the Taxation Bureau, the NGTC Shanghai Lab, banks, customs agents as well as logistics. By October 2021, SDE has 388 members, and about 52% of them are foreign invested companies. SDE members enjoy taxation preferential policies. All the diamonds go 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 jewellery industry, SDE has created tremendous business opportunities for its members. HEADLINE PARTNER 1