China's first public trading center of Xinjiang golden silk jade opened in Karamay, a jade-rich city in the Xinjiang Uygur autonomous region on Jan 1.

The Center, located on the first floor of No 2 Building in Precious Stone Expo Park, is a trading platform for raw materials of jade and planned to open for bidding every other month.

Xinjiang Chamber of Commerce of Golden Silk Jade is the major trading dealer. The sellers consist of the members of the chamber as well as trusted traders of golden silk jade all around China.

The first public trading in the center took place Jan 1–3 with 382 pieces of jade having been traded. By the end of the bidding, 40 pieces of golden silk jade changed hands for prices ranging from 2,100 yuan ($336) to 31,000 yuan. Among the bidders were local collectors and engravers from Beijing, Shanghai and Guangzhou.

It was the first public jade trading in Karamay. It offers reference prices for the golden silk jade market, Han Feng, the head of the trading center, said.