Macau To Enter Rough Trading Through New Diamond and Gem Exchange

Macau is setting up an international trading center for diamonds and rough gems to leverage its relations with Portuguese-speaking diamond producers and take advantage of the rapid development and vast potential of China’s jewelry market.

The Macau China Diamond & Gem Exchange announcement

To help meet this goal, the recently formed Macau China Diamond & Gem Exchange (MDGE) used the September Hong Kong Jewellery & Gem Fair to announce that it signed an agreement with the Shanghai Diamond Exchange (SDE) and the Industrial and Commercial Bank of China (ICBC Macau) to promote the city as a global diamond and gem trading center.

The September 13 announcement was held at the AsiaWorld-Expo convention facility near Hong Kong’s international airport. 

“The rapid development and vast potential of China’s jewelry market has coincided with the evolving plans of the Guangdong-Hong Kong-Macau Greater Bay Area creating an opportunity for diamond and gem trading in Macau,” MDGE said in a statement. “With available financing, low and simple taxation as well as an attractive free trade policy, Macau also has its own commercial and financial advantages to enter the global diamond industry. Building upon China’s “One Country, Two Systems” policy, and the strong support of Macau’s political leaders and business community.”

The organization added, “Through the strategic partnership between MDGE and SDE, the integration of SDE’s policy and management expertise within MDGE will accelerate progress to build upon Macau’s position as an international free trade port and the preferential policies of the Guangdong – Hong Kong – Macau Great Bay Area. Further enhancing this arrangement, ICBC will provide unique financial services to MDGE members as strategic partner of MDGE.”

The agreement allows for the training of professionals in authentication, design and transformation of jewelry. It also makes use of Macau’s position as a world tourism and leisure center and a platform of services between China and Portuguese-speaking countries.

In addition, the agreement will allow MDGE to actively develop concentrated rough-diamond trading, which will drive rough diamonds into the Shanghai Diamond Exchange and further promote the Chinese industry.

Founded in 2000, the Shanghai Diamond Exchange is the only diamond import and export market in the interior of China and the fifth largest diamond trading center in the world.

China imports precious and semi-precious stones from Angola, Brazil and Mozambique.

The demand for diamonds in the wedding market in Macau and in the interior of China has grown significantly as a result of the rapid growth of the Chinese economy.

Royal Asscher Plans China Expansion through Alliance with Sparkle Roll Group

Royal Asscher has begun a strategic alliance in China and Macau with the Sparkle Roll Group Ltd., a distributor of top-tier luxury goods in China.

The alliance is for a period of 10 years, with an option to be renewed for another 10 years and will focus on the promotion and sales of several Royal Asscher diamonds and jewelry lines, most notably Royal Asscher Cut Diamonds the Stars of Africa Collection

“We have established a firm foothold in the Japanese market for 45 years where we supply 125 jewelers,” said Edward Asscher, President of Royal Asscher. “Next to the U.S. and European markets, the People Republic of China (PRC) is the fourth greatest market for our 159 year-old Asscher family company. We believe that Sparkle Roll's market leadership and extensive distribution network will help expand our reach across the broad spectrum of target audiences in the China and thus reinforce our presence in the market.”

Ivan Tong, chairman of Sparkle Roll added, “We began this exclusive distributorship in March 2011 and we are confident that Royal Asscher will be one of the most successful jewelry brands in the PRC.” 

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet and on the Forbes Web site.