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: 午夜免费理论片a级 | 日本国产在线 | 一级黄色毛片免费看 | 男女视频在线观看免费高清观看 | 欧洲女同互慰在线视频 | 美女黄色片免费 | 九九久久九九久久 | 国产粉嫩高中生无套第一次 | 亚洲不卡一区二区三区在线 | 日本在线视频播放 | 久草久草久草 | 久久综合九九亚洲一区 | 91精品91久久久久久 | a毛片免费 | 日日摸人人拍人人澡 | 午夜成人影视 | 亚洲一区二区三区免费 | 日韩制服诱惑 | 蜜桃日本一道无卡不码高清 | 国产在线一区二区三区 | 久久国内免费视频 | 国产一区二区精品久久91 | 国产精品福利视频萌白酱 | 免费观看亚洲 | 中文字幕曰韩一区二区不卡 | 日韩免费精品一级毛片 | 男女视频在线观看免费高清观看 | 日本高清久久 | 最新99国产成人精品视频免费 | 国产日产欧美精品一区二区三区 | 国产精品亚洲四区在线观看 | 91小视频在线观看免费版高清 | 中日韩精品视频在线观看 | 在线欧美不卡 | 狠狠做久久深爱婷婷97动漫 | 免费观看欧美精品成人毛片能看的 | 亚洲日韩视频免费观看 | 一级毛片私人影院老司机 | 国产亚洲综合久久 | 亚洲精品久久久久久久网站 | 亚洲精品美女国产一区 |