China’s Gold Market Entering a “New Normal” Stage: WGC

SOURCE: [China Daily] - Editor’s note: China Daily every year seeks the views of CEOs on the two sessions of top legislative and advisory bodies in Beijing through a questionnaire. This year, we collected the views of chief executives of multinational firms on the annual government report released by Premier Li Keqiang and the reform policies announced at the two sessions.

What impressed you the most about the annual Government Work Report released during the ongoing two sessions of China’s top legislative and advisory bodies in Beijin? What do you think was the most important issue raised by the government in this report compared with the previous sessions ?

On March 9, Xu Luode, as a NPC delegate from Shanghai and the President of the Shanghai Gold Exchange (SGE), proposed his plan, “Suggestions to integrate gold cooperation in the strategic development plan - ‘One Belt and One Road (OBAOR)’” to the NPC & NPPCC. The suggestions noted that cooperation among gold related enterprises and market infra-structure development, involving major gold producers, downstream manufacturers,retailers and investors along the value chain, and led by People’s Bank of China, Ministry of Foreign Affairs, National Development and Reform Commission, Ministry of Commerce and other related ministries, should be developed by leveraging the Shanghai Gold Exchange as the trading hub,supported by other gold markets in the region and be integrated into the OBAOR plan. Related specialized plans and supportive policies will also be developed to balance the regional developments in China and accelerate the interconnection with countries along the routes.

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