Friday, 23rd April 2004 (3092 views)

The gold market in China is booming thanks to the ever-increasing popularity of the precious metal.

Reportedly the key factor for the huge demand in gold is the fact that Chinese people feel 'gold is better'.

Zhang Yongtao, deputy secretary-general of the China Gold Association told China Business Weekly: "Chinese people simply feel gold is better when shopping for jewellery or when considering making investments."

As international gold prices rise and import tariff cuts are planned, the gold market in China is predicted to experience huge growth.

A number of jewellers in the country have voiced their approval of proposed tariff cuts and reportedly international jewellers are planning links with China due to the growing success of its gold.

In the past two decades jewellery sales in China have increased to 100 billion yuan, up from 100 million yuan. Chinese wedding season begins in May and is set to boost demand even further.

 

« Back to the stories

 

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.