China prayed
09-12-2010 golden marketActuality, news China, and press clippings on the mining and the golden market in China. China, he is one of the biggest importers of prime matters and it happens already of buying bonds of the American treasure; in his place he buys and monopolizes gold, what supports the current upward footpath of the golden metal. Another factor that impels the quotation of the gold is China. The market speculates on the possibility that the Asian giant realizes some golden buys as measurement to protect his economy of the inflation.
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08-12-2010 Cotizalia
China quintuples his golden imports despite being the biggest producer
It attracts attention that being the biggest world golden producer, China has quintupled his exports. In the first 10 months of the year 2010, the information of the Shanghai Gold Exchange, which there gathers Bloomberg noir.bloomberg.com 02-12-2010, shows that the golden buy of China has gone on from 45 metric tons in every 2009, to 209 tons only in the first three trimesters of the year 2010.
Also, he is to emphasize that of the imported whole, between 70 and 80 % were miniingots.
The increase of the demand comes from particular investors who prefer to have physical gold, not of the State.
Shen Xuangrong, president of the Shanghai Gold Exchange, assures:
“The expectations of an increase of the inflation it has raised the interest of the investors to have physical gold.”
World Gold Council they think that the Chinese investment in gold might reach 150 tons this year 2010. Also, that last August, 2010 the central bank of the country made sure that he was going to authorize to more banks so that they could buy and sell gold and flexibilizar the regulation so that more signatures could have access to the market of the precious metal.
Francisco López, analyst of X-Trade, comments:
“Beyond the alteration of the demand on the part of China, the gold answers to the suspense of the markets. There are the assets that better reflects the loss of purchasing power of the currencies and as we see more falls of the dollar we will see more advances of the gold.”
Yuichi Ikemizu, analyst chief of prime matters of Standard Bank in Tokyo, said:
“In average and long term, China will be a decisive factor in the prices of the gold.”
07-08-2010 five Days
China offers big opportunities for the gold
In the mid term, countries as China offer big opportunities for the gold; the aggregate demand quota grew in the Asian giant of 5 % in 2002, date of opening of the Shanghai Gold Exchange, to 11 % in 2009.
In the first semester of the year 2010 the business volume has grown more than 50 %.
As informs Bloomberg, the analysts believe that China claims that the banks of the country negotiate more with agents of other continents, this way to reduce his dependency on the market of Shanghai.
Between the products in which the demand grows there are the savings accounts in gold and the golden bars.
In the first trimester of 2010 there was reached the record of 26,8 sold tons, and the information of World Gold Council indicates that the 2nd trimester was moreover demand.
A factor that is increasing the attraction of the gold is the interventionism of the Asian Government on the real estate market, increasing the interest rates and controlling the mortgages, what it converts to the gold into a way of supporting the value of the patrimony of sure form.
05-08-2010 PBC
China liberalizes market of the gold
The Central Bank of China, The People's Bank of China, he has communicated that will open more his market of the gold improving also the fiscal politics with regard to the gold. China is going to allow the banks to extend his exports and golden imports as part of a program to impel the development of the market of the Chinese gold.
Edel Tully, analyst of UBS, said: "This news is very positive for the gold. It looks like an effort to liberalize moreover the market of the gold and to integrate it in the financial frame of China.”
The Central Bank of China has asked the Shanghai Gold Exchange, Shanghai Futures Exchange and the commercial banks, to take part more actively in the development of the national auriferous market.
At present the banks HSBC and the Standard Chartered are already members of the Shanghai Gold Exchange.
The Shanghai Gold Exchange, it is a bag dedicated exclusively to the commerce of gold and platinum, it was constituted in the year 2002, marking the beginning of the golden free trade in the country. Previously, it was the central bank the one that was fixing the quotas.
The Peoplés Bank of China possesses 1.054 tons of gold in his reservations that represent less than 2 % of his currency reserve.
World Gold Council (World Council of the Gold), has pointed out recently in a report that the Chinese golden demand will double in tonnage during the next decade, as the economy becomes stronger.
In 2009, the entire golden demand in China grew 7 %, to 461,9 tons, 14 billion dollars, equivalently to 11 % of the world demand of gold.
In the last 5 years, the golden demand in China has increased an average per year of 13 %.
01-07-2010 the Reason
Eximbank of China offers credit for the state one of the Bolivian gold
The international Eximbank (Export-Import Bank of China) has offered 115 million US Dollars for the structure of the Bolivian Company of the Gold (EBO). The loan will have conditions similar to those of a credit concesional, there is asegurdo the vice-minister of Mining Politics, Gerardo Coro.
The EBO will be a strategic company of development and auriferous commercialization that will realize massive operations in the sectors of major concentration of the gold, as in the river God's Mother. Also, other of his targets will be of controlling and controlling the mining operators who work in the north of the country.
One has come to agreements and advances with Chinese investors of the Eximbank that have the interest to finance this big project of national level.
The conditions of the offered loan would be similar to those of a credit concesional. The loan of 115 million US Dollars would be honored within a period of 20 years, with 2 % of annual interest and to 5 years of grace.
On June 11, 2010, the president of the Mining Corporation of Bolivia (Comibol), Hugo Miranda, informed that only 15 % of the mining national territory is explored.
The Political Constitution of the State (CPE) foresees that the head office of a state mining company will be located in the region that concentrates the biggest production of the mineral to exploit. In case of the state company of the gold, this might be Riberalta, affirmed on May 28 vice-minister Coro.
29-03-2010 WGC
China - golden Demand
The World Council of Gold (WGC) has communicated in his first report on the buyer of the metal of major growth in the world that the golden demand in China would raise to the double during the next decade thanks to the consumption of jewelry shop and the requests of investment. China, at present the second world golden consumer after India, has seen his golden buys growing to a valuation average per year of 13 % in the last 5 years.
The demand of the two biggest sectors of China, jewelry shop and investment, it reached a 423 tons combined number in 2009, with 314 tons given by domestic mines. The golden jewelry shop consumption per cápita of China is one of the lowest, of 0,26 grams, on having compared it with other big consuming countries.
If the gold should consume to the same valuation per cápita that in India, Hong Kong or Saudi Arabia, the Chinese annual demand might grow in at least 100 tons or 4.000 tons only in the jewelry shop sector, he makes sure the World Council of Gold. The WGC estimates the whole of golden inventories of China in nearly 5.000 tons.
10-03-2010 GoldCorp
China intensifies natural resources search
The search of natural resources that has tackled China to feed his economic growth one of the executives intensifies, in accordance with Rob McEwen, president of US Gold Corp and Mine-layer Andes, of the business of the gold more known in North America. McEwen said that the evidence points that China became even more active in his resources search in the recent weeks, even when it was moving away from the buys of qualifications of the Treasure of the United States. The executive emphasized that the Asian giant uses more and more dollars of his reservations to buy mines and properties with resources.
“The Chinese officials are in action to turn to his country in the potency of the XXIst century, and when one has a big bank account and has no debts, and the whole world yes is indebted, can do many things to him. They need resources, enormous quantities that the world has never seen earlier. The Chinese are active in South America. They are buying projects of copper and all kinds of projects of minerals that are not even in an advanced stage. They are not looking simply for a production source. They are a very different competitor. These boys have a plan of long term and they are moving very rapidly. The Chinese also have looked at the projects of US Gold Corp - properties of gold, silver and copper in the United States, Mexico and Argentina.”
16-02-2010 expansion
China cools his appetite for the American public debt waving of step the foreign exchange markets and prime matters
The Asian giant, turned in the last years into the biggest creditor of the USA, has cooled his appetite for the debt estadounidese, up to the point of reducing it, at the end of December, up to minimums from February, 2009. The fact waves not only to the public debt market, in full emission boom, but it relaunches to the euro and, of step, to the prime matters.
To see also:
* The USA - The exit of foreign capital of the bonds of the American Treasure marks his historical maximum in December, 2009
30-01-2010
China - The golden production in 2009 reaches a new record with 314 tons
According to the information of the Association China of the Gold the golden production in the people's republic China has come to a record of 313,98 tons of gold in 2009, increasing 11,34 % with regard to the previous year of 2008. The fact reaffirms China for third consecutive year like the principal producer of world gold, after his annual production was overcoming for the first time 300 tons. 60 % of the production of mines concentrated the year 2009 in 5 provinces: Shandong, Jiangxi and Fujian, in the East of the country; Henan (center) and Yunnan (south-west). The sector of the Chinese gold advanced in 2009 in his consolidation, after there diminished 1.200 producers who existed in the year 2002 up to the 700 of 2009. Although the Association China of the Gold did not reveal the number of golden consumption in 2009, that is known of the previous year, of 395,6 tons. The year of the foundation of the people's republic, in 1949, the country produced only 4,07 tons.
15-01-2010 PBC
China - Currency reserve grew 23 % in 2009
The Popular Bank of China has informed that the currency reserve increased in 453.000 million dollars during the last 12 months. This way China duplicates Japan, his most immediate pursuer in quantity of currency reserve, which scarcely overcomes the trillion dollars. A very important part of the reservations (800.500 millions) come from the buy of American dollars and he makes to be afraid to China that a devaluation of the dollar makes lose value to these bonds.
The M2 (cash in circulation, checking accounts and of savings, in addition to almost liquid assets) shot 27,7 % in 2009.
The Popular Bank of China also there is comunicdo that the bank loans have promoted in December, 2009 379.800 million yuanes (55.600 million dollars), a top number in more than 80.000 million yuanes to that of the previous month.
06-01-2010 SCO
China will be a major golden consumer
China one heads to displace the India like the biggest golden consumer in the world, judging by an increasing demand that last year increased in 13,8 %, up to 450 tons. China qualifies also as the producing golden maximum, on having accumulated 282,5 tons in the first 11 months of 2009, Superior in 146 % to that of previous equal stage. This result was favored by rises records in the prices, dears in more than 50 % after the ounce was quoted at 801 dollars in January and to close the year in 1.226 dollars. In November, 2009, the golden production in China came to approximately 28 tons.
China exceeded in 2007 South Africa like the biggest producer of the metal and in last July the World Council of the Gold predicted that this prompt country would displace the India like leader in the consumption.
06-01-2010 SCO
China predicts increase in golden sales in 2010
As the solid, tangible one and intrinsically valuable materialization of the wealth that is, the gold will keep on becoming more and more popular in China. The Association of the Gold of China (AOCh) said that the estimated demand of the metal in China the year 2009 was 450 tons, 13,8 % more than in 2008, when it was located in 395,6 tons.
“Thanks to the increase of the income, the Chinese consumers are buying more jewels and investing more in the gold. This tendency is impelling the demand”, he said to the newspaper Zhang Bingnan, General Secretary of the AOCh.
At the same time, the Chinese companies of mining have put his eyes in the foreign resources, in order to be supported in aptitude to answer to the increasing home demand.
The last business framed in this strategy was the offer of Zijin to absorb, for 498 million dollars, the Australian mine-layer Indophil Resources, in November, 2009, thanks to which the Chinese signature would be done to the assets in copper and gold of Indophil in the Philippines.
13-12-2009 the Country (Spain)
And China gives the jump
The Asian giant overcomes South Africa in production and also he leads the demand. In his famous report of 2006, Goldman Sachs predicted that China would turn into the first world economic potency in 2040. The Asian giant, eager give the sorpasso, has already achieved it, at least, in the business of the gold. It already snatched the leadership to South Africa like producer in 2007, according to the information of the World Council of the Gold, and before the year 2009 finishes it will do it like consumer, as there corroborates the same organism and other signatures of analysis specializing in precious metals like GFMS. The demand can overcome 450 tons, opposite to the 395,6 of 2008, and the production can climb up to 310 tons compared with the 282 of one year earlier. The numbers proceeding from the China Gold Association and gathered by Bloomberg.
01-12-2009 Zijin
Chinese - Major Chinese producer of gold Zijin buys Australian mine-layer Indophil
The biggest producer of gold and the third one of copper of China, Zijin, there will buy for 498 million Dollars (approximately 332 million Euros) the Australian mine-layer Indophil Resources NL, which controls part of one of the biggest deposits of gold and copper of the Asian Southeast. The operation, which must receive the approval of the Chinese and Australian regulators, will allow to Zijin to do with 34 % of the project Tampakan, in the Philippine island of Mindanao. It is anticipated that the deposits of this project are provided with approximately 13.500.000 of tons of copper and 15.800.000 of golden ounces.
01-10-2009 the Country
China celebrates 60 years of communism claiming his superpower role
The president Hu Jintao makes sure that only the opening will guarantee the development of the country. Strict accident control measures mark a celebration in which the last military advances have been exhibited.
30-09-2009 BBC
China: Communism, capitalism or empire?
In 60 years everything lived through China. A triumphant rural revolution of Mao Tse-Tung, the boldest jump after the communist sleep, a cultural revolution that smoothed any dissent, the desembozado returned from the capitalism, the amazing transformation of poor country to world potency. In the middle of so many transformations, many people wonder what is celebrating China to six decades of the proclamation of Mao Tse-Tung: the communist State?: the most capitalist economy of the planet?: the nascent empire that will displace the United States of his hegemonic position?
30-09-2009 Reuters
Interview - China in positive roll for Latin America
The roll of China in helping to some countries of Latin America opposite to the global economic crisis emphasizes the growth of his importance in a region for a long time considered the “rear courtyard” of the United States, said Pamela Cox, a high official of the World Bank for Latin America and The Caribbean Sea. The aptitude of China to show his economic and financial force, especially in South America, was more than welcome after the crisis that it exploded one year ago in Wall Street. The growth of China is something good for the region in many aspects. It has led to very much growth in the region. Brazil, Peru, and in minor measurement Chile and Argentina, they have benefited from strong commercial ties with China and from his aptitude to extract profit to a renaissance of his demand for prime matters.
20-09-2009 the Country
China, to the conquest - The OCDE analyzes his increasing relation with Latin America
China has turned both into an opportunity and into a threat for the emergent markets and also for Latin America.
The opportunity is clear: Latin America could have canalized his traditional resources towards an economy with an almost insatiable demand of prime matters and the consequent positive impact both on the exports and on the direct foreign investment in the region.
But at the same time, the region runs the risk of narrowing like mere producer of prime matters and of not managing to give the jump towards a more developed productive model.
17-09-2009 SPD
China is supported like principal holder of bonds of the Treasure of the USA in July
China has bought bonds of the Treasure of the USA at the price of 24.100 million dollars in last July with what his entire acquisition of American debt has amounted to 800.500 millions, what it turns to the Asian country into his principal holder. Peking has expressed to Washington his worry in the last months for the quantity of this debt, after the American Government was throwing an enormous bundle of financial rescue to relieve his worst recession from the decade of 1930. China is afraid of a devaluation of the dollar that makes lose value to these bonds, which shape the majority of the reservation of foreign currency of the Asian country, the biggest of the world with 2 trillion dollars. In the last week the USA and China have begun a trade war again for conflicts with some of his exports in his bilateral commerce, therefore some analysts have begun speaking about “cold war” between both titanium. In this "war", Peking also has proposed from the explosion of the global crisis a financial system which reference currency is not the dollar.
16-09-2009 ABC
The United States, China and the new economic order
The United States that it consumes less will reduce his imports to China. As the Chinese exports diminish the United States and China begins centring his economy on consuming more and in increasing his expense in infrastructure, a different economic order will arise. The same way as it is changing his commercial model, China will depend less of the American market, and his political influence will turn out to be developing because the nearby countries will depend increasingly on the Chinese markets.
14-09-2009 LD
The politics of golden buys of the government of China
Last April Hu Xiaolian, vice-governor of the Popular Bank of China, was announcing that the Central Bank of China had increased his golden reservations in 454 tons, from the year 2003. At present, the Chinese organism possesses in his reservations 1.054 tons of gold. China will keep on buying gold for his reservations, but it is doing it so that I did not affect too much to the world market of the metal. It is not a secret that the economic advisers of the Chinese government prove to be deeply worried by the monetary politics carried out by the USA. China has expressed his worry of which this monetary politics should drive, in the next years, to a galloping inflation and to the corresponding devaluation of the American dollar. China possesses more than 70 % of his international reservations in dollars, the biggest of the world, and a change in his politics might mean a massive sale of dollars.
China has lost the confidence in the dollar and it is trying to increase his golden reservations.
Cheng Siwei, ex-Vice-president of the Permanent Commission of the Communist Party, and at present a species of economic ambassador of China for the world was indicating recently that: "the gold is definitely an alternative, but when we buy, the price rises. We have to do it carefully not to stimulate to the market”.
China occupies for 2 years the first place as world producer of gold of the world and shortly it will exceed the India like the first world golden consumer.
09-09-2009 finance
China forces motorboat of the market of the gold, gives consistency to the rises
Very much China has to do, the biggest possessor of dollars and bonds of the USA, which turns out to be worried by the speed of impression of money to buy bonds, what undoubtedly it will take to the inflation, ending up making to fall down hard to the dollar and there has turned into the force motorboat of the market of the gold, buying when they lower the prices, with what he avoids deep corrections, but carefully, to prevent the prices from going off. This explains the consistency of the increase of the valued metal, in spite of the rises of the bags.
09-09-2009 Forbes
China - The industrial and commercial bank Chinese ICBC opens precious metals departments looking for the leadership in the wave for the gold
ICBC, the biggest bank for market volume, he said Wednesday that is going to have proper departments for the buy golden sale. China is the biggest producer of the world, and the second biggest in consumption. The Chinese have always had the habit of taking gold as a personal well-being. The market of Chinese gold takes big perspectives as the growth of the individual wages. So much private investors as commercial they have the right to buy physical gold in the Shanghai Gold Exchange and futures of the gold in the Shanghai Futures Exchange. The same way, the individual Chinese investor - usually - buys to himself the golden ingots in commercial banks and shops of jewelry shop.
09-09-2009 the Economist
Long march of China to overthrow to the American dollar
In the last months China has begun reducing gradually his tenancy of bonds of the Treasure of the United States, although this retreat cannot be violent. Slow but inexorably, since it is desirable in the circles to be able of Peking, China will initiate next September 28 his individual Larga Marcha to overthrow to the dollar. This day, the Chinese Government reckons, for the first time, for the emission in Hong Kong of sovereign bonds named in yuanes for valorde 878,5 millonesde dollars. The decision to express in Hong Kong this small but significant quantity-878 million dollars - of sovereign bonds in yuanes, feel the bases to change the long-term laws of the game. This is, that in the future the dollar stops being the currency of international reservation. Even, from the perspective of the Government, Peking does not discard that it is the Chinese currency the one that assumes the roll of stable currency.
04-09-2009 MineWeb
China does television campaign so that the masses of the people buy gold and silver
The Chinese state television has thrown an informative one in which it presents the facility of investing in gold and silver. The Chinese government carries out a campaign so that the Chinese population invests and buys gold and silver. Formless “Thunder Road Report” informs that China has introduced officially the possibility of buying, in any Chinese bank, gold and silver (99,9 %) in the shape of 500g, 1 kg ingots, 2 kg, and 5 kg. To imagine - for a moment - what would mean the buy of gold and silver on the part of each of 1.300.000.000 Chinese …
04-09-2009 the Commerce
China will use yuanes, not dollars, for buy of bonds of the IMF for up to 50.000 million dollars
According to an agreement between the Popular Bank of China and the IMF. The expectations were pointing that China would use dollars to buy the bonds, which are named in Special Rights of Draft (DEG), the account unit of the IMF, while he thinks about how to diversify his vast international reservations. But the agreement establishes that China will pay to the IMF up to 341.200 million yuanes (50.000 million dollars), also acquaintances like renminbi, for the bonds in DEG, based on the exchange rate of August 25. The price of buy of every bond of the IMF should be paid “for transference of the equivalent sum in DEG of Chinese Renminbi to the account of the Fund”, it stipulated the agreement that was signed this week.
03-09-2009 MarketWatch
Hong Kong repatriates golden reservations
Hong Kong has just begun repatriating his deposited physical gold - till now - in London. They are taking it it was doing a building of high safety newly released close to the airport Chek Lap Kok Airport. It is a question of a current value (31-08-2009) of approximately 63.000.000 of dollars. Martin Hennecke, a financial adviser of Tyche Group Ltd., he said: "The central banks are more and more conscious than the importance of having his golden reservations in proper hands and at their own disposal.”
17-08-2009 chronicler
For China, it is a moment to go out of the pitfall of the dollar
Before the observation of which it cannot already support his growth rhythm in a context of flagging dollar and fiscal relaxation in the United States, the Chinese government looks for alternatives that her do less dollar - clerk.
17-07-2009 CincoDías
Chinese - Internet it comes already to the fourth part of the population
The Internet expansion keeps on extending quickly in China, where the number of users reached 338 million users in June, 2009, more of the fourth part of the population of the country. The number supposes an increase of 40 million users with regard to the previous inventory, prepared at the end of 2008. 94,3 % of the Chinese users uses wide band to gain access to the network. The governmental study points out that the Chinese users use Internet especially to read news, to play and to speak with his friends, with a strong increase of the buys for Internet (it passed of 14 million users of these services at the end of 2008 to 87,9 millions in June). China is from 2008 the country with major number of Net users of the world, at big distance of the second (USA).
19-06-2009 ABC
China signs up to the protectionism in the big governmental investments
The Chinese Government signs up to the protectionism to try to go out of the crisis taking advantage of his big investments. For it, it has dictated an order for which “the projects of investment of the Government should buy materials and services produced in China unless these could not be obtained at reasonable prices”.
16-06-2009 Luiz Inácio Lula gives Miscellany
The countries BRIC come to the adulthood
Brazil, Russia, India and China generate today 65 % of the world growth. The Russian city of Ekaterimburg receives a meeting of the leaders of the called countries BRIC: Brazil, Russia, India and China. We will seal the commitment to help to offer new answers for old problems and a bold leadership opposite to the inertia and the indecision.
Are ready the rich countries to be resigned to his control of the decisions in the World Bank and the IMF?
16-06-2009 expansion
The BRIC ask for a more diversified currencies system
The president of Brazil, Luiz Inácio Lula gives Miscellany, also he has pleaded for coming undone of the American dollar in the bilateral commercial exchanges, proposal that endorses Russia, but that China has showed itself reticently to accept. On this matter, Arkadi Dvorkóvich, economic adviser of the Russian president, made sure that the rouble, the yuan and the gold should be part of a checked category of coins of the IMF to form the evaluation of the special rights of the fund (SDR).
16-06-2009 EP
China and Spain sign agreements for 1.360 millions to cooperate in renewable and air transport
Indra, Abengoa, Gamesa, Topfly, Solaring and the Group Hamlet Mir appear between the taking part companies.
15-06-2009 ABC
China, to any machine towards the high speed
In one year there will be operative the biggest factory of trains of high speed in China that also will turn into the biggest research center and railroad development. Inside his infrastructures modernization, the Asian giant will be provided in 2020 with 12.000 kilometers of routes of high speed. Along with the trains it bleats already existing, that reach 350 kilometers per hour, the project covers with stars it will cover 1.300 kilometers that separate Peking of Shangai in four hours.
10-06-2009 finance
The crisis will help up China like the second economic potency and it brings it over to the USA
China will overcome Japan like the second world economic potency before the year finishes and will force to a major interconnection with the first one, the United States, according to prognoses of the members of the principal institution of the international banking. The interdependence between China and the USA is going to grow moreover. The Chinese vice-minister of Location, He Yafei, pointed out that China does not think to get rid of the dollar, but in these moments he looks for his stability to guarantee the safety of the international economy.
10-06-2009 LD
China will buy bonds of the IMF for 50.000 million dollars
Russia, China, India and Brazil have pressed to the Fund so that it sells to them bonds, across which they could canalize his extraordinary contributions to the organism. The qualifications would give them more flexibility, since the central banks might sell them to themselves and buy them to him between them, at the time that they would be taken into account like currency reserve of the country, in the same way that the notes of the American Treasure. With the emission of bonds and traditional contributions, the IMF wants to obtain 500.000 million dollars in additional resources promised in the presidential summit of the Group of the Twenties (G-20) at the beginning of April. The qualifications of the Fund will be in Special Rights of Draft, the virtual currency of the organism, that it consists of a basket composed by the dollar, the yen, the pound sterling and the euro.
13-05-2009 Cotizalia
The fever of the gold
China is one of the promoters of the fever of the gold who is lived these days. Conscious of the risk that bears to support a big part of his investments in dollars, the Central Bank of China has accumulated in the last big months quantities of physical gold, duplicating his reservations until the 5th biggest country becoming in aggregate reservations. The justification is clear: although it quotes in dollars, one usually appreciates the price of the gold with the weakness of the American currency. It acts, therefore, like natural coverage. The distaste to the risk turns to the gold in a sure bet in this environment for many investors.
28-04-2009 Libertad Digital
China reveals that it has duplicated his golden reservations
Hu Xiaolian, chief of the discreet State Administration of Currencies that controls 1,9 trillion dollars in foreign currencies of the country, has revealed that China has 1.054 tons of gold, what indicates a notable increase from 600 tons in 2003. Suki Cooper, analyst of the gold in Cardinal Barclays, said that the movement of China was “reinforcing the relevancy of the gold as monetary assets”.
02-04-2009 Cotizalia
A new reservation currency
Russia and China have done a proposal to create a new currency of international reservation to compete with the dollar, and that would have part of his anchoring in the value of the gold, in addition to the rouble and the yuan.
31-03-2009 Libertad Digital
Russia pleads for restoring the gold standard as new currency of world reservation
Arkady Dvorkevich, economic adviser of the Kremlin, defends to include the golden ingots in the basket of currencies that would serve as base to establish a new world currency in replacement of the dollar, based on the Special Rights of Draft of the IMF, as he proposes along with China.
03-02-2009 ChinaMining
China increases 4,26 % the golden production in 2008
Chinese, principal producer of gold of the world, produced the year 2008 approximately 282 tons of the precious metal, consisting an interannual increase of 4,26 %, according to information of the Association China of the Gold (CGA). The increase is lower than the average of annual production of last years in the Asian country, about which 15 % was. 46,4 % of the golden production in China concentrates in the provinces of Shandong and Jiangxi, in the East of the country, and Henan, on the center. The information of the association is indicated that the commercial volume on the market of the gold of Shanghai reached by 868.390 million yuanes (126.960 million dollars the USA; 98.670 million euros), with an increase of 174,84 % with regard to 2007. The supremacy of China in the sector owes to a decrease of the South African production in the last decade 50 % to itself, at the time that the Asian country was increasing his in 70 %. The Chinese golden production supposes 7 % of the world whole and his sector is composed by approximately 800 producers after mergers and procurement that reduced them nearly two thousand signatures that existed almost a decade ago.
10-12-2008 China Daily
China - golden Producers deposited 11.350 million euros in 2008
The golden production brought to the Chinese companies of the sector more than 11.350 million euros (14.670 million dollars) in income during 2008, has reported the local press. This way his income increased in 76,56 % interannual. China, the first producer of gold of the planet, generated more than 223 tons of the precious metal in the first 10 months of the year, 3,32 % more than in the same period of the previous year, according to the official statistics of the Department of Industry and technology of the information quoted by China Daily. Only in October, China produced 24 tons of gold. The province of (this) Shandong is the principal national producer, with 20,6 % of the abstracted material, followed by Henan (center), with 10,86 %, and Fujian (southeast), with 8.
12-11-2008 but Gold
China - But Gold thinks about how to buy small mines
But Gold is looking for procurement of new projects of mining in moments in which the financing becomes exhausted for the small mine-layers and after opening recently his second gold-mine in China. But Gold, which produces 2 of 4 mines of foreign property in China, has begun to produce gold in the mine White Mountain of Jilin, close to the border with North Korea, and hopes to increase the production to approximately 65.000 annual ounces by the middle of 2009.“ The balance is that we are in the only position. Now we have two operations, have 65 million dollars of cash in the balance sheet and we are producing flow of operative money. If there is observed the combined capitalization of market of the foreign small mine-layers who operate in China, in March it was 1.500 million dollars, now it is 200 million dollars. There has been an entire annihilation and I think that we are in a position in which we can gather some of these assets. But Gold might consider projects with the possibility of producing soon, or long-term some, but not projects that would need very much financing to begin to produce.”, said Jake Klein. The sellers might include Chinese businessmen who bought mines during the heyday of the mining of the small foreign signatures that have remained without money.“ The banks do not want to be big enough for a development project, but once the construction has ended, they are very glad to be big enough. That is very interesting for us, because we have existing infrastructure in the country, and that's why we might borrow potentially money against that.”, supported Klein.
28-10-2008 China
China - Open new mines of golden minerals and iron in the East
The authorities of grounds and resources of the oriental Chinese province of Shandong announced on Monday the discovery of two new deposits of iron ores and gold. Experts of the Provincial Bureau of Geology and Mineral resources of Shandong found a golden mineral deposit with 103 tons verified reservations, in the southern part of the golden belt of Jiaojia, in the city of Laizhou. The mine has an estimated value of more than 20.000 million yuanes (2.920 million dollars), according to sources of the said authorities. The belt of Jiaojia, located in the end of south of the peninsula of Shandong, has turned into one of the principal foci of exploration in China from the 70s, when the first gold-mine was discovered in the region.
23-10-2008 Xinhuanet
Central bank of China warns on risks in illegal golden futures speculation
The Popular Bank of China, the issuer of the country, said today on Thursday that the “underground speculation of golden futures” is a “typical illegal commerce of golden futures”, and therefore it is not protected by the law. The issuer affirmed that it will improve the supervision of the commerce of the gold and will encourage the education between the investors to raise his conscience level on the risks.
20-10-2008 intereconomy
China is interested in buying gold to be protected from the dollar
During the annual autumn dinner celebrated in New York this weekend, the CMRE, Committee for the Monetary Investigation and Education, Robert A. Mundell, Nobel Prize of Economy in 1999 and at present adviser of the government of China, has pointed out that the Asian giant has big interest to buy gold as protection due to his excessive exhibition to the dollar. The gold of the reservations of the IMF belongs to the member states, not to the IMF in itself. The golden sales of the Fund need of the approval of the member countries. For his part, Chris Powell, secretary and treasurer of Gold Anti-Trust Action Committee, CAT, exhibited during the annual autumn dinner of the CMRE the postulates of the CAT about the manipulation of the price of the gold. Powell went so far as even to doubt that the IMF possesses the golden reservations that to have assures. The CAT supports, for years, that the price of the gold is submitted to manipulations on the part of the central banks. This manipulation of the prices of the gold would be provided also with the support of the American Federal Reservation and of important investment banks. The target of this control of the price of the gold would be that of propping up to the dollar and to the western financial system. Also, the CAT affirms that the central banks possess approximately half of the golden reservations that officially they declare.
08-07-2008 PrecioOro
Chinese - New gold-mine with reservations of more than 20 tons
The National Corporation of Gold of China (CNOCh) announced on the 7th the discovery of a new seam with a reservation estimated in 15 tons of gold in one of his mines.
22-05-2008 PrecioOro
China will see 3 big discoveries I pray
China, the biggest world golden producer, might strengthen moreover his production of the precious metal with the discovery of up to three giant auriferous deposits in the next 5 years.
15-02-2008 PrecioOro
China overcomes the USA like the second major retail golden market
China overcame in 2007 the United States like the second major retail golden market, only behind India, despite the higher and higher prices of the valuable metal, according to a report of the World Council of the Gold.
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