Shanghai Diamond Exchange (SDE) and Tokyo Diamond Exchange (TDE) co-hosted a Diamond Negotiation Meeting in Shanghai for the first time On April 13th, 2016. Thirteen top Japanese diamond dealers and retailers came to join the event with polished diamond stock on the spot, and had a broad and in-depth exchange of views with their Chinese counterparts.
Before the negotiation meeting started, representing each diamond exchange, SDE president Mr. Lin Qiang and TDE Director Mr. Iwasaki Michio signed a strategic cooperation agreement, which took a pragmatic step towards close business association and laid firm foundation for future deep cooperation. Dozens of SDE members have witnessed this significant moment. During the following three hours, representatives from both organizations had free talks with people coming to inspect and bargain in a continuous stream. The Japanese firms have brought all sorts of diamonds with a wide range of sizes, and some even brought rare fancy colored diamonds. Encouragingly, several of them had intended to reach a deal.
After the meeting, SDE hosted a networking party in Shanghai Diamond Centre. Representing SDE, Mr. Lin Qiang delivered a welcome speech at the beginning of the party. He said that it was a pity that only 8 out of 382 SDE members were Japanese companies. Mr. Lin believed that there was a broad cooperation space between the two parties, since China had a tremendous amount of diamond consumers, while Japan had mature diamond trading market, exquisite cutting skills as well as abundant stocks. He also hoped that the communication and cooperation between the two parties could help to push forward the Sino-Japan bilateral relations to a more friendly and healthy direction.
In his speech, Mr. Iwasaki expressed gratitude to SDE for its warm reception and all the efforts it has made to host the event. He said that the depression of the Japanese economy and its diamond industry forced conservative Japanese companies to pursue opportunities overseas. Mr. Iwasaki thought that this negotiation event had provided a great opportunity for the Japanese jewelers to have a better understanding of the market potential and sales channel of China’s diamond industry. He also hoped that more follow-up activities would be organized so that more Japanese diamantaires could be able to reach the Chinese market and bring fine jewels to the Chinese consumers.
Mr. Ni Hua, vice director of the Diamond Administration Office of China also delivered a speech on the reception. He introduced the basic functions of the diamond authority, and encouraged the Japanese enterprises to develop in China. Mr. Ni said that the Diamond Administration Office and SDE would work closely to provide full service for members both home and abroad. During the rest of the reception, representatives of the 13 TDE members gave presentations in turn with detailed information about their companies and products.
Apart from the negotiation meeting and the networking party, the TDE delegation’s tour also included a visit to Laofengxiang Co. Ltd’s headquarter in Shanghai. They had the chance not only to see the dazzling jewelry exhibition center of the company, but also to visit its gold and silverwares workshop that was included in the national intangible cultural heritage. Mr. Zhang Shengkang, vice general manager of Laofengxiang warmly received the Japanese delegation and introduced the development, business performance as well as market innovation of the 168 year old Chinese jeweler. The Japanese visitors asked questions about the gold purchasing channel, sales and market potential of each kind of jewelry, consumer preferences, as well as gem certificates requirement in China, etc.
The last stop for the Japanese delegation was the Shanghai Gem & Jade Exchange located in Huangpu District. Founded at the end of 2014, the exchange centre provided full service for the jewelers and end-consumers including gem & jade trading, appraisal, identification, pawn broking, financing, showcasing as well as logistics. Accompanied by Mr. Lin Qiang, the delegation had a panel discussion with the head of the Gem & Jade Exchange, during which they learned about cross-border transactions of jewelry in China. The Gem& Jade Exchange would like to cooperate with Japanese companies on its online trading platform, and could provide logistics and tax preferences for them through its underground tariff-protected warehouse. The Japanese delegates showed great interests in the innovative marketing model and had in-depth communication with the host. It was believed that there would close cooperation between the two parties in near future.