According to reports from The Shanghai Diamond Exchange, China has witnessed an increase in diamond imports by 60 percent, amounting to $124 million in the first quarter of 2008, as said in a local media. Of this respective quarter, the imports during march 2008 had the highest rise of 49.6 percent or $52.2 million, compared to last year’s March imports. The Shanghai Diamond Exchange is China’s sole and official state-owned diamond supplier. Most of the imports were employed in finished jewellery.