The diamond bare stones and diamond jewelry sold domestically will have more transparent, safe and traceable guarantees. Recently, the launch ceremony of the RapNetBuy global diamond trading platform and diamond traceability promotion conference were held online, opening a new chapter in domestic diamond sales that is becoming more legal and compliant. In the future, jeweler will have more trust in purchasing diamonds.
RapNetBuy is a global diamond trading platform jointly created by the China Jewelry and Jade Jewelry Industry Association (hereinafter referred to as the China Jewelry Association), RAPAPORT Group, Chongqing Baiying Equity Investment Partnership, Shanghai Wanbao Shanglian Service Co., Ltd., and Guangdong Baomao Technology Co., Ltd. It was officially launched on July 8, 2022.
At present, RapNetBuy has reached cooperation with the Shanghai Diamond Exchange, and jeweler can query the electronic source code of diamonds through RapNetBuy to identify the legitimacy of diamond channels. In addition, RapNetBuy also signed a strategic cooperation agreement with the National Jewelry and Jade Inspection Group Co., Ltd. (hereinafter referred to as the National Jewelry Inspection Group) to purchase overseas diamonds for domestic jeweler in the international scope, and provide testing services for these overseas diamonds. Both parties are also working hard to trace the source code of diamonds bound by certificates.
How will diamond tracing reduce diamond smuggling? How widespread is it? What is its next goal? Regarding the hot topic of concern in the domestic diamond industry, a reporter from China Gold Jewelry magazine interviewed Su Wenquan, the director and general manager of Guangdong Baomao Technology Co., Ltd.
Su Wenquan, Director and General Manager of Guangdong Baomao Technology Co., Ltd
China Gold and Jewelry Magazine: What is the relationship between RapNetBuy and diamond traceability code?
Su Wenquan: RapNetBuy is a global diamond trading platform under Baomao Technology. The platform integrates procurement, advance payment, customs declaration and logistics. RapNetBuy is committed to providing jeweler with a legitimate, safe, efficient and transparent diamond trading platform. The Shanghai Diamond Exchange, as the only official link between domestic and international diamond import windows in China, officially certifies and launches the diamond traceability code, which corresponds to the diamond declaration diamond traceability information query code one by one. It fundamentally distinguishes smuggled diamonds from declared diamonds and avoids the risk of buyers mistakenly buying smuggled diamonds.
Baomao Technology and the Shanghai Diamond Exchange have reached a consensus on jointly promoting the compliant operation of imported diamonds from China and jointly promoting diamond traceability.
Diamond Warehouse
China Gold and Jewelry Magazine: Could you please provide a detailed introduction to the traceability code of diamonds.
Su Wenquan: The diamond traceability code is officially certified and issued by the Shanghai Diamond Exchange. The diamond exchange creates a corresponding QR code card for each legally declared diamond. By identifying the QR code, the corresponding diamond declaration information can be queried, including the diamond certificate number, diamond parameters, declaration code, and declaration time.
China Gold and Jewelry Magazine: What is the background and original intention of RapNetBuy and Shanghai Diamond Exchange diamond traceability code launch?
Su Wenquan: The jewelry industry has developed for thirty years. Since the national crackdown on diamond smuggling in 2020, relevant functional departments have continuously conducted inspections in customs and taxation, strengthened the promotion of diamond import standardization. In the long run, the release of diamond traceability codes is urgent.
The Shanghai Diamond Exchange is the first to launch the traceability code for declared diamonds, which fundamentally distinguishes smuggled diamonds from declared diamonds and avoids the risk of buyers mistakenly buying smuggled diamonds. The RapNetBuy platform has undergone in-depth construction in terms of launch, development, and data integration. It has now opened up the diamond traceability source code interface and is committed to providing comprehensive services for jewelry professionals, creating a legal, cheap, transparent, and efficient diamond trading service platform for global diamond merchants.
Su Wenquan Exchange Experience with Peers
China Gold and Jewelry Magazine: Could you please provide a specific introduction to how RapNetBuy and diamond traceability code can reduce diamond smuggling and enhance sunshine trading?
Su Wenquan: First, RapNetBuy has reached strategic cooperation with the Shanghai Diamond Exchange, which will open a query port on the RapNetBuy platform to facilitate jeweler to efficiently query the customs declaration information of each diamond.
Secondly, RapNetBuy has global diamond seller data information and will open a data query window to the Shanghai Diamond Exchange, allowing jewelry companies to observe in real-time the information of smuggled diamonds with international certificates sold in China and compare the information of legitimate imported diamonds from the Shanghai Diamond Exchange.
Thirdly, the jewelry national inspection will optimize and upgrade the appraisal certificate, adding diamond customs declaration traceability information to the certificate.
Fourth, RapNetBuy, together with China Treasure Association, China National Jewelry Inspection and Quarantine Bureau, Shanghai Diamond Exchange, Raybonbo Group, and more jewelry industry associations and institutions keen on the normalization of diamond channels, called on diamond wholesalers to operate legally and in compliance to build a good business environment for the diamond industry, and called on jeweler to resolutely buy only diamonds with the traceability code of the Shanghai Diamond Exchange and only from companies members of the Shanghai Diamond Exchange.
Diamond Bare Stone Trading
China Gold and Jewelry Magazine: What is the current level of promotion and implementation of RapNetBuy and Diamond traceability code?
Su Wenquan: In terms of supply chain, after two years of preparation, RapNetBuy has a massive global diamond supplier and a remarkable amount of diamond data. It has an excellent diamond supply chain system and currently has a large diamond database in the country. In terms of promotion, RapNetBuy has been recognized by a large number of jewelry peers since its release. As of now, nearly 2000 real name certified jewelry enterprise member units have registered member units, and it is expected to exceed 5000 real name certified jewelry enterprise member units by the end of 2022.
From August 2021 to July 2022, the diamond traceability code of the Shanghai Diamond Exchange will be promoted through multiple channels. At present, most domestic diamond wholesalers and jeweler all over the country already know the diamond traceability code, and many diamonds have already brought the traceability code. Currently, due to the large number of declared diamonds and the long production cycle of diamond traceability codes, we are accelerating the construction of an online diamond traceability code query channel.