SDE News

SDE and IDE Signed MoU in Tel Aviv


On June 25, a Shanghai delegation headed by Mr. Hang Yingwei, Mayor of Pudong New Area paid official visit to Israel Diamond Exchange (IDE). Mr. Lin Qiang, president of Shanghai Diamond Exchange (SDE) accompanied the government delegation that received warm welcome from the Israeli host.

In his opening remark, IDE president Mr. Yoram Dvash said “Israel and China have always kept a close relationship on diamond business cooperation for a long time. The Chinese market has been developing very fast during the recent years. Therefore, the IDE pays high attention on China. This important visit would further strengthen exchanges and cooperation between our two countries and bring new opportunities to the diamond industry.


Mayor Hang thanked IDE for their hospitality as well as the great help they have offered during the establishment of SDE in 2000. He hoped to see long-term cooperation framework to be built between SDE and IDE in win-win situation. 


Hang stressed that Pudong is the frontline of China’s reform and opening up with the country’s very first pilot free trade zone and free port. Pudong owns lavish resources and solid strength in terms of technology, talents, finance as well as institutional innovation. Following the “One Belt One Road”Initiative, the government of Pudong would actively offer favorable terms and support to the Israeli diamond companies in China.


“With profound traditional friendship”, Mr. Lin Qiang said, “Israel and China have close cooperation especially in the diamond sector.  Now the international diamond industry is in a crucial time when the market changes with each passing day. Israel and China should make joined efforts to meet the challenges. IDE is the major global leading force in the industry with state-of-art blockchain technology utilized and large diamond manufacturing factor under construction, while SDE enjoys an average increase rate of more than 20% on diamond import. Both bourses would adopt various cooperative approaches to promote the development of the two countries. ”

Representing their bourses respectively, Mr. Dvash and Mr. Lin signed a memorandum of understanding (MoU) at the signing ceremony witnessed by Mayor Hang and leaders from Pudong government as well as IDE. Under the MoU, the two bourses would collaborate in the areas of reciprocal terms for their members, large diamond processing, visits and exchanges, online trading platforms etc.  After the ceremony, the leaders had further discussion on potential cooperation in broader fields and the implementation of specific tasks.  

Honorary President of both WFDB and New York Diamond Dealers ‘Club, Mr. Eli Izhakoff, old friend of Chinese diamond industry who made tremendous contribution to the establishment of SDE was also invited to the meeting.



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