The International Diamond Council’s (IDC) new nomenclature rules and diamond grading standards have been approved by three major international diamond and jewellery trade organisations, in Shanghai.

The acceptance came forth during the recent 33rd World Diamond Congress in Shanghai, where the three organisations issued the following joint statement: "CIBJO recognises and respects the revised IDC Rules for Grading Diamonds, which was prepared by the International Diamond Council (IDC), which is a joint committee of IDMA and the WFDB concerned with diamond grading standards and nomenclature. The revised rules were approved in Shanghai by the executive committees of both IDMA and WFDB. The revised IDC rules includes terminology that broadens the range of descriptors that can be used for gem-quality diamonds that have been created in laboratory or factory, and to date have been referred to as "synthetic." According to the new IDC rules, gem quality diamonds created in a laboratory or factory can be described as: "synthetic," "laboratory-grown," "laboratory-created," or "man-made," and the descriptor must always be followed by the word "diamond" or "diamonds." Under no circumstances can the term "cultured" be used to describe gem-quality synthetic diamonds. At present, CIBJO's Diamond Blue Book only allows the descriptor "synthetic" to describe gem-quality synthetic diamonds."

IDC Chairman Stephane Fischler stated "Concerning diamond nomenclature, we have been aiming to get IDC - i.e. WFDB and IDMA - in line with CIBJO for many years. This important achievement bodes well for the development of the future of international diamond grading standard and nomenclature". The IDC is a joint committee established in 1975 by the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA) to create an international standard for rules, working methods and nomenclature.