DAC Delegation visits IDI

Aims to gain insights and cooperation to develop Shanghai Diamond Exchange Center
DAC Delegation visits IDI

In view of learning and seeking cooperation and guidance from the Israeli Diamond Industry to develop their diamond center in Shanghai, a delegation of high level officials in the Diamond Administration of China (DAC) and related agencies recently visited Israel. The visit included stops at the Israel Diamond Exchange (IDE) trading hall, the IDE Technology Center, the Harry Oppenheimer Diamond Museum and IDI offices.

The Chinese delegation was headed by DAC Assistant Chairman Zhang Bin and included DAC Deputy Director Ji Guang Yu, Pudong Customs Deputy Commissioner of Wang Tiefeng, Pudong Customs Deputy Director Liu Feng and Shanghai Taxation Bureau Vice Director Cao Lu. The group met with Udi Sheintal, Managing Director of the Israel Diamond Manufacturers Association (IsDMA), Motti Besser, Managing Director of the Israel Diamond Exchange, Shmuel Mordechai, Israel Diamond Controller, Nissim Palomo, Israel Diamond Institute (IDI) Chief Marketing Officer and Sharon Gefen, IDI Public Relations Director.

Delegation leader Zhang Bin said the visit was prompted by the ‘outstanding performance’ of the Israeli Diamond Industry. He also noted that the purpose of the visit focused on understanding the functioning of the local diamond industry, roles of the various players in the industry – the bourse, the manufacturers, the Diamond Controller, IDI, banks, understanding the management systems behind these institutions. Moreover, he said, they were looking to establish future cooperation with the Israeli industry in order to develop the Shanghai Diamond Exchange Center, the only diamond center in the country.

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