The infographics presented below show detailed information about the Chinese gold market, which has attracted a lot of attention worldwide because of its fast growth. As long as investment options in China are limited due to the economic policies, gold is being seen as a safe investment for private investors, companies, and banks alike. The government is also increasing its gold reserves, which may have reached 5,000 tonnes by now.
Gold market in China
The demand for gold in China surges. For example, in 2013, 37 tonnes of gold coins were minted in China, and Chinese buyers represented 15% of the global demand. China mined 428.16 tonnes of gold in 2013, which was 10% more than in the previous year. Chinese mining companies are also expanding worldwide, trying to place their feet in many countries, from Kyrgystan to Brazil.
Most likely, China already surpassed India as the world’s biggest gold consumer in 2011. The year 2014 may mean even more profits because it follows the ill-omened Year of the Snake, and the consumers are in better moods. Another important change is the entry of foreign companies and the launch of night trading. It will further facilitate the exchange of gold and will help to satisfy the rising demand.