Credited to a strong demand of the domestic diamond jewelry consumption market and the continual improvement on the diamond taxation policy, China diamond trade realized a steady growth in 2008. According to Diamond Administration of China (DAC), China diamond import, export and trade in Shanghai Diamond Exchange (SDE) exceeded a record high of US$1.307 billion in 2008, increasing 30.5% against 2007.
China diamond import for consumption reached US$500 million in 2008. Although China diamond import slowed down during the fourth quarter under the global financial crisis, the import for the full year of 2008 still hold a high growth, thanks to the steady demand of China domestic diamond jewellery market. In 2008, China diamond import and export totaled US$1.174 billion, increasing 29.1% against 2007. The import reached US$535 million—polished diamond for jewellery use accounts for 99.4%—and increased 21.7% against 2007.
Diamond trade SDE had a rapid growth. The increasingly active diamond trade between members in SDE reached US$100 million in 2008, with a growth of 78.6% against 2007. By the end of year, SDE had 230 members, with twenty-one newcomers in 2008..
Source: Diamond Administration of China