China is the world’s fastest growing diamond market. Retail sales of jewelry, gold and silver increased 6% year on year, to just over $3 billion this year, as reported by the Chinese Statistics Bureau. The province of Guangdong, and specifically Guangzhou City, are a locus of this booming activity.
Guangdong province has been a diamond manufacturing center in China since the late 1980s, when the first diamond processing enterprises were established there. In the ensuing decades, the industry grew in leaps and bounds. Indeed, Guangdong province accounts for 70% of diamonds manufactured in China. In 2015, the Guangzhou Diamond Exchange was established, the only diamond exchange in Guangdong to be approved by the People’s Government of Guangdong province. Recently, the exchange held its first rough diamond tender, which brought in sales of $6 million.
Despite this positive activity, there has been a slow down in diamond and gem processing in recent years in the province. In response, the local government is taking significant steps to boost diamond productivity and trade. For example , the government is simplifying procedures and reducing taxes, in the hope of incentivizing diamond manufacturers to return to Guangzhou City, or to increase their business activity in the region.
Another measure taken by the Guangzhou Diamond Exchange was to invite Sarine Technologies to open a new Galaxy® inclusion mapping service center in the heart of the Guangzhou diamond district. As a result, the first Galaxy® lab in China recently opened its doors, adjacent to the Guangzhou Diamond Exchange, providing inclusion mapping and other services to local diamond manufacturers and traders.
The Sarine Galaxy® is the world’s-leading inclusion mapping device. Based on proprietary technology, the Galaxy® is used by diamond manufacturers and traders to gain a precise understanding of the diamond’s internal inclusions, in order to maximize the polished yield that can be extracted from the rough.
The Guangzhou Galaxy® center is the ninth center of its type in the world. The others are located in the world’s main diamond mining and manufacturing hubs, including India (Surat and Mumbai), Israel, Belgium, Russia, South Africa, Namibia and Botswana. The opening of a Galaxy® lab in Guangzhou is testimony to the strength and significance of the Chinese manufacturing market.
Sarine Galaxy® Service Center - Guangzhou City, Guangdong Province, China
Tel: +86 13580314308
Email: Galaxycenter@diamondtech.cn
