Page 8 - Bullion World Issue 4 August 2021
P. 8
Bullion World | Issue 04 | August 2021
Excerpts from the
virtual Asia Pacific
Precious Metals
Conference 2021 on
June 17, 2021 on the
Update from China
What are the new
initiatives in China?
And what is the
latest on outreach
to Asean and
beyond?
Mr Zhao Fanghua The epidemic since last year took a is still resilient and active. In 2020,
General Manager, heavy toll on the global gold market. China produced nearly 400 tons of raw
Shanghai Gold Exchange International As the largest gold production and gold, and the gold production of large
consuming market in the world, gold refiners was basically flat year-
China's gold market is also facing on-year. Under the severe situation of
many challenges. At the beginning of the epidemic, China's strict measures
the epidemic, China's gold mines and against the covid carried out some good
jewelry manufacturing enterprises were results. Enterprises of gold products
under much pressure of shut down. have explored new online channels and
With China gradually recovering from new markets. Gold coins, gold bars,
the pandemic, our gold enterprises gold jewelry and other products have
have resumed production while eye-catching sales performance.
making efforts to prevent the epidemic.
Production capacity, supply and demand With the control of the epidemic in
of China’s gold market have gradually China, the China’s economy has
recovered. Despite the severe impact recovered. In first quarter of 2021,
of the epidemic, China's gold market China's retail consumption of gold
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