China's gold consumption surpasses India's first place in the world

Chinese gold consumption in India into the world's first over

China's gold consumption has grown year after year, surpassing India in 2013 and becoming the world's largest gold consumer. China has developed into the world's fastest growing gold market.

The reporter obtained the above information from the Third Member Congress of the China Gold Association held on the 16th. Previously, the World Gold Council predicted that China will surpass India as the world's largest gold consumer in 2014, but new data show that this expectation has become a reality in 2013.

In 2013, China's gold consumption reached 1176.40 tons, exceeding 1,000 tons for the first time, more than three times that of 361 tons in 2007, and more than 40% more than in 2012. Among them, the consumption of gold bars increased by more than 50%, and the growth of gold jewelry exceeded 40%.

Sun Zhaoxue, president of the China Gold Association, said at the meeting that China has formed two gold jewelry processing bases in Guangdong's Shenzhen processing enterprise cluster and Guangdong Panyu export processing enterprise cluster, becoming the world's most important gold processing country, and the gold jewelry wholesale and retail industry is developing rapidly. .

According to statistics, in 2013, the total retail sales of China's gold and jewelry market exceeded RMB 400 billion, making it the most important gold jewelry consumer market in the world.

In addition, China is also the largest gold producer. In 2007, China surpassed South Africa, which is the world's largest gold producer for 109 years, and ranked first in the world. It has won the championship for seven consecutive years. By the end of 2012, China had identified gold resource reserves of 8,192.24 tons, ranking second in the world.

In 2013, the international gold price fell sharply, and the annual decline was over 28%. "To prevent the resurgence of the 'gold uselessness', the judgment of the gold price should not be eager for quick success, and should not only see its temporary ups and downs, but to see its longer-term value-preserving and hedging role," Sun Zhaoxue said.

Sun Zhaoxue also believes that although China is already the world's No. 1 gold producer and consumer power, it still has no voice in gold pricing, which restricts the healthy development of the industry.

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