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Large business initiatives such as belt and road open up new prospects for cooperation for the Chinese gold industry, especially in the countries and regions associated with this initiative, said a industrial manager
. Mining and refining technologies and the benefit of talent can play a complementary role to the regions and countries associated with the Belt and Road initiative, most of which have substantial gold resources, said Song Xin. head of the China Gold Association. nation has become a leader in the global gold industry in the areas of gold production and consumption and the production and processing capabilities of the products are well adapted to the potential market of the region. 19659003] According to the China Gold Association, Chinese companies have invested more than $ 4 billion in overseas markets in recent years. resources of more than 1500 tons. Gold production of Chinese enterprises in overseas destinations was 35 tons at the end of 2017.
China's gold consumption reached 1,089.07 tons in 2017, up 9.41% over the previous year. gold bullion and industrial uses are exploding. Demand for gold is expected to continue to grow with growth in high-end consumption and demand from second- and third-tier cities, he said.
Considering the fact that the Chinese have long valued gold for its financial and symbolic value as traditions and growing prosperity will continue to stimulate the demand for gold and thus further facilitate the trade of the country. China's gold with regions and countries participating in the Belt and Road Initiative
"Gold producers such as Zijin Mining Group, the largest gold producer of the China, have invested abroad to secure the stability of gold, "said Zhu Yi, senior analyst of metals and mining at Bloomberg Intelligence.
Zijin purchased gold assets from Barrick Gold and Ivanhoe Mines in 2015. She also bought Norton Gold Fields in Australia, "China is a resource-rich country, but the ore grade is relatively low and some resources are not easily accessible. "
China imported more than 854,150 tons of raw materials in 2017 worth more than $ 1.69. billion. About 19 of the 55 regions and countries where China has purchased precious metal ore and ore concentrate are participating in the B & R initiative.
China has also imported 408,700 tonnes of gold from regions and countries participating in the B & R Initiative in 2017. 47.85 percent of the country's total imports. Figures from the China Gold Association reveal that China has become the world's leading producer of gold for the 11th consecutive year since it surpassed South Africa in 2007. [19659015]
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