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11:24 | Sep 26 | 2014

Russia and China to establish Diamond Exchange

 According to President of the group of companies "Karat" Konstantine Bunin, Russia received a proposal from the Chinese side to establish a trading platform in the sort of the Shanghai Diamond Exchange.



“The idea was so attractive that the RF Ministry of Natural Resources, the Governments of Yakutia and Ingushetia immediately supported us”, - ITAR-TASS quoted. Commenting on the proposal, Bunin said that currently it is impossible to import into China even one carat diamond without listing on the Shanghai Diamond Exchange.

“In addition, now a lot of nephrite, amber, charoite, jadeite are smuggled into China from Russia.  The Exchange will legalize and normalize the flow of precious stones”, - said Bunin.   The President of the "Karat" also unveiled plans to establish Russian-Chinese Jewelry Association.