Guangzhou Diamond Exchange too to promote Lab-grown diamonds

Lab-grown diamonds
[Image Courtesy: Guangzhou Diamond Exchange]

After Bharat Diamond Bourse (BDB), according to a media report, contemplating to lift the ban on Lab-grown diamonds on its trading floor, within next six months, China’s Guangzhou Diamond Exchange (GZDE) has signed a strategic cooperation agreement with Lab-grown diamond suppliers in the country to develop and promote Lab-created diamonds.

 

The contract signed during a forum at 2019 China International Gold Jewellery and Gem Fair held in Shenzhen is prompted because of volatile diamond market in China and to ensure that Lab-grown diamonds provide a more consistent supply.

 

“The high-tech genes of lab-grown diamonds, the ability [for] stable supply, and its outstanding appearance, [which is the] same as natural diamonds, have opened a window for this new material,” said GZDE chairman Zhu Yongsheng. “In addition to the innovative application in jewelry through creative design, it could [create] cross-border development with other industries.”

 

GZDE will promote Lab-grown diamonds trading as a seprate business, while its dealers will use a new GZDE logo with reference of being a Lab-grown diamond seller.

 

While further details of the agreement are not yet known, Guangzhou Diamond Exchange has acted as a  steward for the rest of industry to follow.

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