Source: National Business Daily, ChinaScope Financial (Data)
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Data from the Census and Statistics Department
shows that gold exports and re-exports from Hong Kong to mainland China was
135,529 kg in the first quarter of this year, a significant increase from
19,729 kg in the same period of last year. The figure was 62,907 kg in March,
up 59% month-on-month.
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The World Gold Council predicts that in 2012
China will take over India and become the world’s largest gold consumer. In
2011, the aggregate gold demand in India was 933.4 metric tons, while it was
769.8 tons in China.
Gold
demand is increasingly driven by investment. The total gold demand growth is on
a decline.
Despite the recent decline, domestic output can
still not meet the consumer demand, why import is increasing.
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