China is going to considerably increase manufacture volume of the diamond industry.
30 November 2007
Authorities of China considered necessary to essentially expand diamond industry of the country, in particular due to the further decrease in taxes in this sphere. Such opinion of the deputy minister of trade of Peoples Republic of China Ma Suhun results agency Sinkhua.
Since July 2006 taxes in this sphere of industry decreased from 15,3 % to 10 %. Besides, value-added tax on import of the raw jeweller diamonds is completely cancelled. The deputy minister considers that "now there comes favorable time for deducing this industry on a new level".
In 2006 volume of all tenders on specialized Shanghai diamond stock exchange was made of $600 million, in 2007 its not going to be less than $900 million. Chinese market of jewelry is on the fifth place in the world on volume.