TIANJIN, Oct. 28 (Greenpost) — Despite challenges including slowing economy, sluggish prices, environment and resources worries and fiercer competition, China’s gold enterprises should seize the opportunities brought about by the “Belt and Road” initiative to tap international markets for higher-level development, experts suggest at the recent 2015 China Mining conference.
The “Belt and Road” initiative is a golden opportunity for domestic gold industry, they say.
It is reported that countries along the “Belt and Road” initiative boast gold reserves totaling about 21,000 metric tons (tonnes), accounting for 41.5 percent of the world’s total. In 2014, gold output in those countries amounted to about 1,116 tonnes, accounting for 35.6 percent of the world’s total. Gold jewelry consumption in those countries stood at 2,025 tonnes, representing 82.4 percent of the global consumption and demand for physical gold investment amounted to 778 tonnes, accounting for 77 percent of the world’ total.
As one of the largest gold consumers of the world, gold enterprises in China, with relatively strong advantages in exploration and mining technologies, can contribute to those producers in countries along the “Belt and Road”.
The implementation of the initiative has brought about a new historic opportunity to China’s gold industry, said Song Xin, president of the China Gold Association (CGA) and General Manager of China National Gold Group Corporation. Measures rolled out by the Chinese authorities to transform economic growth pattern and adjust the economic structure have offered broad space for the industry’s growth. Implementation of “Internet Plus”, “Made in China 2025”, Equipment “Going Global”, and International Capacity Cooperation are all releasing reform bonus, with “Internet Plus” and Intelligent Manufacturing in particular to help the industry to make technological breakthroughs and innovate marketing models that can hugely promote the development of the industry, said analysts.
The Chinese authorities are also making efforts streamlining governance, delegating power downward, etc., which have increased approval efficiency and simplified procedures for gold mining projects. On gold import and export, the authorities also loosened restrictions on gold trading qualification by introducing a much more friendly version of gold import and export management methods. Enditem
Editor Xuefei Chen Axelsson