The Shanghai Diamond Exchange (SDE), together with government representatives from Botswana, Namibia and South Africa, has signed the Beijing Declaration on Natural Diamonds and Sustainable Development, establishing a framework for greater cooperation between diamond-producing countries and China’s jewellery industry. The declaration was signed in Beijing on September 15.

The agreement brings together stakeholders from the producing and consuming sides of the natural diamond industry, with discussions covering global market developments, China’s consumer and retail sector, and the socioeconomic contribution of diamonds to producing countries.

The declaration sets out a shared approach to the sustainable development of the natural diamond industry, aligned with the United Nations Sustainable Development Goals and the African Union’s Agenda 2063. It also recognises the link between the economic contribution of diamond mining in Africa and Chinese consumers purchasing natural diamond jewellery.

The SDE plays a connecting role between the international natural diamond supply chain and the Chinese market, providing customs, tax and certification services. Rapaport reported that Chinese consumers are increasingly considering factors including authenticity, provenance and cultural significance when purchasing natural diamonds.

De Beers CEO Al Cook, Natural Diamond Council CEO Amber Pepper and Emma Wade-Smith representing the World Diamond Council were among the industry representatives who witnessed the signing.