Hong Kong Customs seize 160 diamonds being smuggled at Shenzhen border

More than 160 diamonds worth an estimated $840,000 have seized during a Hong Kong customs inspection of a truck at a new border checkpoint, as per a report in South China Morning Post.
The Shenzhen-bound haul was to be smuggled through the Heung Yuen Wai control point, which opened in April, to avoid stringent import restrictions and mainland Chinese taxes amounting to between 10 and 20 per cent of the precious stones’ value. 
The diamonds were seized at this border control point. The seizure was made on November 26 morning when a truck heading for Shenzhen was selected for a routine inspection.
It is believed that the diamonds were being taken to factories over the border, where they would be turned into jewellery for sale on the mainland market.
There is a high demand for luxury items such as diamonds and precious metal in mainland China and this creates a market for cross-border smugglers.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished