March 02, 2021

Foreign media said Beijing has been approved to directly import gold

According to relevant sources, the materials have been shipped directly to Beijing. At present, it is only a small amount. The direct import of gold from Beijing has just started in the first quarter of this year. After Shenzhen and Shanghai, the opening of China's third gold import point means that Hong Kong may lose its position as the frontier of China's gold trade, and mainland China will be able to directly obtain more gold without having to buy through channels that will be publicly purchased. gold.


In addition, Global Trade Information Services data shows that mainland China imports at least 194 tons of gold from outside Hong Kong, more likely to pass Shanghai. According to sources, China has more channels for direct import than Hong Kong to Shenzhen because it does not want its gold purchases to be disclosed. More channels may also be adapted to the needs of free trade zones and non-jewelry. .

China does not publish any data on gold trade. The global market can only judge China's gold purchases through data from Hong Kong. The value of gold imported from China's Hong Kong to mainland China last year was about 53 billion US dollars. Some analysts pointed out that more mainland cities began to import gold directly, which would make it more difficult for the outside world to estimate China's real gold reserves. There are rumors that the central bank's gold reserves are actually between 3,000 and 5,000 tons.

Philip Klapwijk, general manager of Hong Kong consultancy Precious Metals Insights, said that China's official purchases in the first half of 2013 may total 300 tons, and purchases may be faster in the second half. The sharp increase in gold supply in the Chinese market in 2012, especially in 2013, may be related to a large number of official purchases.

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