Moscow: Russia and China plan to establish a joint bourse for trading in precious and semi-precious stones, the group of companies Karat’s CEO Konstantin Bunin said, according to ITAR-TASS.

The company has received a proposal from the Beijing Gold Exchange (CBGE) and the Beijing Financial Asset Exchange (CFAE) to create a trading floor for precious stones following the example of the Shanghai Diamond Exchange, Bunin said.

“The idea turned to be so attractive that Russia’s Natural Resources and Environment Ministry, and the governments of the Republics of Yakutia and Ingushetia supported us at once,” Bunin said.

Talking about perspectives in China Bunin also mentioned plans to create a Russian-Chinese jewelry association.

The group of companies Karat specializes in gold mining and processing of diamonds and gold, and operates in Russia, Hong Kong, mainland China and Ghana.