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China National Gold Corporation becomes a member of the Board of Directors of the World Gold Council
Release time:
22 Sep,2015
Source:
On September 22, the World Gold Council and China National Gold Corporation officially announced that China National Gold Corporation has become a member of the board of directors of the World Gold Council and the only Chinese company among the board members of the association.
The day before, the two sides announced the formalization of this long-term cooperative relationship at the signing ceremony of the Denver Gold Forum in the United States.
China's gold market has grown rapidly over the past few decades. Whether from the supply or demand level, China has become the largest gold market today. The rapid growth of China's gold production is directly proportional to the growth of China's gold consumption demand. The World Gold Council and China National Gold Corporation agree that the future development of China's gold market breeds many opportunities and potentials.
Important drivers for the development of gold demand in China include economic growth and the rising number of middle class with deep-rooted preferences for gold culture, which is expected to reach 0.5 billion by 2020. In addition, China's economic reform, the improvement of people's consumption power, and market expansion have provided favorable conditions for the further development of China's gold market and the process of internationalization.
Song Xin, General Manager and Party Secretary of China National Gold Corporation, pointed out that we have always highly recognized the status of the World Gold Council as an authoritative organization in the global gold field, and attach great importance to its profound expertise in opening up new markets for consumers and investors. Knowledge and experience. We believe that playing a more active role in this organization will help China's gold mining industry and the entire gold supply chain play a more important role in the global market. At the same time, China National Gold Corporation continues to strengthen its interaction with the world's leading gold mining companies and actively participates in various projects of the World Gold Council, which will also better promote the global understanding of the Chinese gold market and establish its broader international influence.
Aram Shishmanian, CEO of the World Gold Council, believes that the development speed of China's gold mining industry is amazing. Thirty years ago, China's annual gold production was less than 60 tons, and today, its production has increased by more than 650. The growth of domestic consumer demand in China and the rapid development of the Shanghai Gold Exchange brought about by the relaxation of restrictions on gold have become a strong driving force to support the development of the market in the next few years. We remain optimistic about the development of the Chinese gold market and firmly believe that the World Gold Council will play a vital role in the development of the Chinese gold market in the future. Our close ties with key market participants and the positive performance of China National Gold Group in our board of directors will help the development of the entire market.
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