The diamond was valued at 199 million carats, worth US$1.07 billion, at the Shanghai Diamond Exchange Council, in the year 2007. As the only diamond exchange permitted by China's State Council (China's Cabinet), the Shanghai Diamond Exchange Council has developed at the fastest speed across the world.
Lin Qiang, CEO of the Shanghai Exchange, said the trade volume in 2007 increased by 50 per cent compared to 2006. "The Chinese economy's fast development, the rise in consumption, and further improved policies will help us to become the hub of the diamond exchange in Asia or even the world."
The Shanghai Diamond Exchange has become a fair and safe exchange for diamond dealers both at home and abroad since its establishment on October 2000. With more than 40 members at its beginning, it now has as many as 215 members.
The 49,000 squared meter-new building of the China Diamond Exchange Center, located in Lujiazui region of Shanghai, will be completed by the end of this year. At a later date, the Shanghai Diamond Exchange will move into the new building.
By People's Daily Online
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