www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Economy

WGC: Growth of middle class 'will support demand for gold'

By Lyu Chang (China Daily) Updated: 2014-09-12 07:24

WGC: Growth of middle class 'will support demand for gold'

A national intangible cultural heritage-" The Art of War of Sun Tze" on gold bars-makes its debut in Beijing on Tuesday. Sun was an ancient Chinese military strategist of the Spring and Autumn Period in the 6th century BC. The entire contents of his well-known 36 tactics were carved on 45 gold bars that weigh 120,000 grams in total. CHINA DAILY

Yuan internationalization likely to increase nation's need for the metal, experts say

Gold demand in China will grow steadily as the middle class expands and the yuan is further internationalized, which will require an increase in gold reserves, said trade officials on Thursday.

Although gold prices have been sliding since last year, the metal remains an attractive investment in China. Demand for gold jewelry and bars will provide a "cushion" for the price in the coming years, Aram Shishmanian, chief executive officer of the World Gold Council, told the China Gold Congress & Expo 2014 which opened on Wednesday in Beijing.

"People love gold in China, and for some, it seems to be a status symbol," he said. "For China's investors, gold will be serving as a wealth protection and store of value during times of economic turmoil because gold is a safe-haven alternative asset," he said.

WGC: Growth of middle class 'will support demand for gold'
WGC: Growth of middle class 'will support demand for gold'
Top 10 countries with most gold reserve
Chinese buyers purchased a record 1,176 metric tons of gold in 2013, with jewelry demand climbing 43 percent to 716.50 tons and bullion demand soaring 57 percent to 375.73 tons. Gold can also be used in the electronics, medical and other industries.

Purchases in China are expected to be slightly lower this year, said Albert Cheng, managing director of the WGC for the Far East. Cheng explained that last year's buying surge was partly prompted by lower prices.

He estimated that gold consumption is likely to hit 900 to 1,000 tons this year, but demand could reach at least 1,350 tons by 2016.

Meanwhile, China's push to make the renminbi a global currency will further increase the central bank's gold reserves, trade insiders said.

Song Xin, president of the China Gold Association, said that it is in China's interest to support renminbi internationalization with gold reserves.

"The internationalization of the renminbi is a clear trend though it is still in its infancy, with full convertibility still not implemented," he said. "But gold as a store of monetary value and the purpose it serves in financial markets have already been given great importance."

Song said that China's gold market has seen dramatic growth during the past decade but consolidation is necessary, because miners and refiners are under mounting pressure from falling prices. "We need to combine resources and encourage mergers and acquisitions," he said.

The People's Bank of China had gold reserves of 1,054 tons in 2009, accounting for only about 1 percent of its massive foreign exchange reserves. However, reports have indicated that the central bank may soon lift that figure to 2,710 tons.

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 国产精品免费看久久久香蕉 | 欧美特欧美特级一片 | 日韩欧美一级毛片精品6 | 国产亚洲精品国产第一 | 一级毛片真人免费播放视频 | 国产女女视屏免费 | 免费在线精品视频 | 普通话对白国产情侣自啪 | 国产精品美乳免费看 | 中国三级网站 | 日韩美女爱爱 | 成年人在线视频网站 | 欧美一区二区三区国产精品 | 亚洲成在人线久久综合 | 一级毛片美国一级j毛片不卡 | 日韩精品永久免费播放平台 | 久久香蕉国产观看猫咪3atv | 亚洲免费网站观看视频 | 免费一级欧美毛片 | 国产一区二区久久 | 国内精品一区二区2021在线 | 国产亚洲片 | 欧美视频一二三区 | 国产精品日本一区二区在线播放 | 午夜精品一区二区三区在线观看 | 日本在线网| 国产高清在线视频 | 日本在线毛片视频免费看 | 在线观看一级 | 114毛片免费观看网站 | 国产小呦| 亚洲欧洲一区二区 | 韩国成人毛片aaa黄 韩国福利一区 | 一级特色大黄美女播放网站 | 91伊人国产| 欧美成人伊人十综合色 | 久久精品成人免费看 | 大陆老太xxxxxxxxhd | 99久久国内精品成人免费 | 成人的天堂 | 97成人精品视频在线播放 |