The 9th Gold and Precious Metals Summit in China, organized by IGVision Corporation with the support of the China Gold Association and the Shanghai Gold Exchange, was held in Shanghai on December 3-4, 2014.
About 250 representatives of all segments of the gold industry and trade met at a summit to discuss issues such as precious metals prices, a supply-demand pattern, investments in the gold sector, mining development strategies, monetary policy trends, demand for gold in China and India, the global macroeconomic environment in the context of the decline in gold prices, the decline in retail sales of gold outside Asia, the strengthening of the dollar and the recovery of the US economy, and many others.
According to the information of the China Gold Association, gold production in China reached 428 tons in 2013, and in the first three quarters of 2014 it increased by 15%. It is assumed that the import of gold into the country will be 1200-1300 tons this year.
At the same time, the president of the China Gold Association and the general director of China Gold Corporation Song Xin said that China has already overtaken India in terms of gold consumption, thus becoming the world leader in the production, consumption, import and processing of this precious metal. The level of consumption of gold jewelry in China has been growing steadily since 2004.
Also this year, at the Chinese Summit on Gold and Precious Metals, the Dubai Pavilion was presented, organized by a group of experts from the Dubai Commodity Exchange Center (DMCC) and other representatives of the gold industry in the region.