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We aren't trying to trick you - New Jade may be the common trade name for this stone, but it isn't technically a jade. New Jade is light color and translucent, and is usually a celery green color. It is also commonly referred to as Serpentine Jade.
New Jade belongs to the serpentine family, and is a magnesium silicate.
Metaphysically, New Jade is said to be a stone of cleansing. It is associated with the heart chakra.