The Macau·China Diamond and Gem Exchange’s (MDGE) online initiative launched in September called ‘Entrusted Transaction Service System’, aims at ensuring secure and seamless delivery of gems and diamonds from buyer to seller amid the Covid-19 crisis, as per media reports.
Using the MDGE system, vendors can hand over the designated goods to online, and MDGE will then guide them on how to transfer the goods to Macau. The Exchange will be fully responsible for inspection, transaction, settlement and delivery services after the goods arrive in Macau.
According to the exchange, Macau has the same advantages of a free port as Hong Kong, with easy access to goods and zero tariffs. The Macau government has demonstrated an efficient response to the pandemic, making the entrusted inspection and trading of diamonds, gems, and other goods in Macau.
MDGE is the only international diamond and gem trading platform in the Greater Bay Area that operates under global trading rules. It is managed by the Shanghai Diamond Exchange.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
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