In the backdrop of the Hong Kong Jewellery & Watch Fair 2007, a significant memorandum of understanding was signed between the International Colored Gemstone Association (ICA) and the China Council for the Promotion of International Trade (CCPIT) Panyu Branch, a time when CCPIT announced 2008 as the Thematic Year of Colored Stone Promotion. The move was to promote coloured gemstones in China. %% CCPIT’s chairman, Li Zhi-wei, a member of the Chinese delegation, mentioned, “With this capacity to converge industry information and resources globally from gemstone miners, manufacturers and dealers around the world, ICA is efficiently facilitating the rapid development of the colored stone industry by strengthening international cooperation, multi-directionally and laying a solid foundation for sustainable growth”. CCPIT is optimistic about the collaboration and is already planning to continue the Year of Colored Gemstone Promotion to 2009, considering the enthusiasm of ICA. %% The visiting ICA delegation attending the show was led by its president Andrew Cody. Mr. Tan Ying-hua, Secretary of the Chinese Communist Party of Panyu District & Chief Director of People’s Congress, Panyu assured that the government officials paying a lot of importance to promote the gem and jewellery trade in Panyu and are looking forward to working with ICA. The initiative between the two companies will be launched in 2008.