Polished diamond imports into China will be levied with a 0.3 percent charge, beginning starting October 1, 2008. The same was announced by the Shanghai Diamond Exchange to its members, and said the minimum charge to be CNY300 ($44). This is apart from the ongoing 4 percent value-added tax on polished diamond imports, levied by the Chinese government. %% The new charge is being imposed at the recommendation of the Finance Ministry, the Shanghai Foreign Economic Relations and Trade Commission, and the Diamond Administration of China, in order to promote the diamond industry and pay governmental costs.