2 thoughts on “What is the status quo of China's gold market?”
Roland
In April 2001, the governor of the Central Bank announced the cancellation of the planning management system of "unified purchase and distribution". In June of the same year, the central bank officially launched the gold price week quotation system to adjust domestic gold prices based on changes in international market prices. On October 30, 2002, the Shanghai Gold Exchange was officially operated. This is a major breakthrough in my country's golden management system reform, symbolizing a new step in China's gold market. At present, my country's gold market shows the following important features: 1. Successfully established a diversified and multi -level gold trading market At present, China's gold market has established the gold commodity market, the gold investment market and gold Credit market. These markets have created conditions for the function of gold multi -attributes, and also provide different trading platforms for people's demand, currency demand and investment demand for gold. Specifically, my country's gold market has formed a gold trading market system consisting of Shanghai Gold Exchange, Regional Gold Trading Center, Shanghai Futures Exchange, and bank counters and gold products shops. Among them, the Shanghai Gold Exchange provides a trading platform for member units, so the price information of the exchange has a guided role in my country's gold market; the regional gold trading center, as the secondary trading market, is mainly based on self -employment and agency gold business, which has played a role. The role of connecting the Shanghai Gold Exchange and non -member institutions and individual investors; the Shanghai Futures Exchange mainly operates gold futures, providing investors with hedging and investing in speculative trading venues; bank counters and gold products stores are individuals Investors and consumers provide trading venues to meet their different needs. 2. Successfully established the gold trading system that coexisted inside -site transactions and overseas transactions In international major gold markets in the world after hundreds of years of development, it has formed a variety of characteristics and comprehensive trading models Essence Among them, the most representative is the futures tangible market for the New York Commodity Exchange (NYMEX) and the bank spot intangible markets represented by the London Gold and Silver Market Association (LBMA). Based on the successful experience of the development of the gold market in developed countries, China has now established a more standardized trading system that is relatively standardized with tangible gold spot and futures, and the off -site market has gradually improved. (1) In -site transactions At present, the market transactions of my country's gold market are mainly held on the Shanghai Gold Exchange and Shanghai Futures Exchange. rn上海黄金交易所自2002年10月30日正式开业以来，在完成了黄金由“统购统配”向市场化交易转变的功能之后，通过增设现货延期交收业务、调整会员结构、 Effective methods and means such as setting up night market transactions, continuous enrichment of personal gold investment varieties, and reducing the threshold for entering the market to promote the sustainable and stable development of the domestic gold market. The three major varieties of gold, silver and platinum are integrated, and comprehensive precious metal exchanges, including spot real sets, postponed settlements and personal investment, and officially attracted the famous foreign countries such as HSBC Bank in 2007 Gold Trading Bank is a formal member. It, in order to avoid transaction risks in long -term gold production and investment, Shanghai Futures Exchange successfully launched gold futures on January 9, 2008, and adopted a development model for physical isolation with the spot market. Investors enter the Shanghai Futures Exchange through futures companies through agency, which can achieve indirect investment in gold. Futures exchange -unique two -way trading and hedge mechanism, margin trading system, T 0 trading system provides investors with a unique investment platform. (2) Overseas transactions The main carrier of my country's gold market off -site transaction is a commercial bank that investors enter the gold market. The four major state -owned banks including Bank of China, Construction Bank, Industrial and Commercial Bank of China, and Agricultural Bank of China have already approved the People's Bank of China that can engage in domestic gold spot trading and gold transaction funds, and act as an agent of Shanghai Gold Exchange to handle gold physical storage, delivery, gold project Financing, interbank gold borrowing, leasing acquisition of gold, and gold retail business for residents. Unlike the physical gold investment launched by the Shanghai Gold Exchange, since 2003, the above -mentioned major banks have launched the paper gold business named after their respective banks, and at the same time act on the gold bar business launched by the Shanghai Gold Exchange.
The proportion of gold minerals accounted for nearly 80 % In statistics from the China Gold Association, since my country became the world's largest golden production country in 2006, my country's gold production scale has been leading the world. In recent years, affected by factors such as the clearance of mining rights in the nature reserve, the transfer of mining rights transfer income, cyanockera as a hazardous waste management, and the exhaustion of mining resources, Henan, Fujian, Xinjiang and other key production funds (districts) of the mineral gold output The decline has led to a decline in gold production across the country. In 2021, the national gold output was 328.98 tons, a new low of five years. In the first half of 2022, the re -production and resumption of Golden Manufacturing Enterprises in Shandong Province was significantly effective, and the production of mineral gold rose sharply by 123.64%. The recovery of the production of gold in gold has driven the sharp rise in the national gold production. In the first half of 2022, my country's gold output was 174.687 tons, an increase of 21.934 tons over the first half of 2021, an increase of 14.36%year -on -year.
From the classification of raw materials produced by gold, the current raw materials in my country mainly include gold ore and non -ferrous metal by -products. Among them, gold ore is the main source of gold production in my country. In recent years, with the improvement of non -ferrous metal refining technology, the gold shares produced by non -ferrous metal by -products in my country have continued to increase. above. By the first half of 2022, my country's gold minerals accounted for 79.7%of the total gold output.
Gold consumption is mainly gold jewelry Gold consumption since 2017, the national gold consumption has shown a downward trend as a whole. With significant results, the overall domestic gold consumption remained restored and achieved rapid growth. The actual consumption of the national gold was 1120.90 tons, an increase of 36.53%compared with the same period in 2020. The first half of 2022, due to the impact of the domestic epidemic, the high base of the year formed, the consumption of gold jewelry has fallen significantly, and the national gold consumption is 476.82 tons, a decrease of 12.84%compared with the same period in 2021. It, from specific to the gold consumption structure, my country's gold consumption mainly includes three categories: gold jewelry, gold bars and gold coins, and consumption of industry and other fields. Among them, gold jewelry consumption occupies an absolute dominant position. 2022, my country's gold jewelry consumption accounted for 67.26%of the total gold consumption. In addition, the consumption of gold bars and gold coins accounted for 23.58%of the total consumption of gold; Essence Surbing to the field of gold jewelry consumption, since 2017, my country's gold jewelry consumption has shown a downward trend. In 2021, the national hard -footed gold and ancient gold jewelry consumption has a strong consumption, which drives the overall strong rebound of gold jewelry consumption. 2021 2021 In the year, the consumption of gold jewelry in the country was 711.29 tons, an increase of 44.9%year -on -year. By the first half of 2022, my country's gold jewelry was 320.73 tons, a year -on -year decrease of 7.98%. -For more industry research and analysis, please refer to the "China's Gold Industry Market Prospective and Investment Strategic Planning Analysis Report"
In April 2001, the governor of the Central Bank announced the cancellation of the planning management system of "unified purchase and distribution". In June of the same year, the central bank officially launched the gold price week quotation system to adjust domestic gold prices based on changes in international market prices. On October 30, 2002, the Shanghai Gold Exchange was officially operated. This is a major breakthrough in my country's golden management system reform, symbolizing a new step in China's gold market. At present, my country's gold market shows the following important features:
1. Successfully established a diversified and multi -level gold trading market
At present, China's gold market has established the gold commodity market, the gold investment market and gold Credit market. These markets have created conditions for the function of gold multi -attributes, and also provide different trading platforms for people's demand, currency demand and investment demand for gold.
Specifically, my country's gold market has formed a gold trading market system consisting of Shanghai Gold Exchange, Regional Gold Trading Center, Shanghai Futures Exchange, and bank counters and gold products shops. Among them, the Shanghai Gold Exchange provides a trading platform for member units, so the price information of the exchange has a guided role in my country's gold market; the regional gold trading center, as the secondary trading market, is mainly based on self -employment and agency gold business, which has played a role. The role of connecting the Shanghai Gold Exchange and non -member institutions and individual investors; the Shanghai Futures Exchange mainly operates gold futures, providing investors with hedging and investing in speculative trading venues; bank counters and gold products stores are individuals Investors and consumers provide trading venues to meet their different needs.
2. Successfully established the gold trading system that coexisted inside -site transactions and overseas transactions
In international major gold markets in the world after hundreds of years of development, it has formed a variety of characteristics and comprehensive trading models Essence Among them, the most representative is the futures tangible market for the New York Commodity Exchange (NYMEX) and the bank spot intangible markets represented by the London Gold and Silver Market Association (LBMA). Based on the successful experience of the development of the gold market in developed countries, China has now established a more standardized trading system that is relatively standardized with tangible gold spot and futures, and the off -site market has gradually improved.
(1) In -site transactions
At present, the market transactions of my country's gold market are mainly held on the Shanghai Gold Exchange and Shanghai Futures Exchange. rn上海黄金交易所自2002年10月30日正式开业以来，在完成了黄金由“统购统配”向市场化交易转变的功能之后，通过增设现货延期交收业务、调整会员结构、 Effective methods and means such as setting up night market transactions, continuous enrichment of personal gold investment varieties, and reducing the threshold for entering the market to promote the sustainable and stable development of the domestic gold market. The three major varieties of gold, silver and platinum are integrated, and comprehensive precious metal exchanges, including spot real sets, postponed settlements and personal investment, and officially attracted the famous foreign countries such as HSBC Bank in 2007 Gold Trading Bank is a formal member.
It, in order to avoid transaction risks in long -term gold production and investment, Shanghai Futures Exchange successfully launched gold futures on January 9, 2008, and adopted a development model for physical isolation with the spot market. Investors enter the Shanghai Futures Exchange through futures companies through agency, which can achieve indirect investment in gold. Futures exchange -unique two -way trading and hedge mechanism, margin trading system, T 0 trading system provides investors with a unique investment platform.
(2) Overseas transactions
The main carrier of my country's gold market off -site transaction is a commercial bank that investors enter the gold market. The four major state -owned banks including Bank of China, Construction Bank, Industrial and Commercial Bank of China, and Agricultural Bank of China have already approved the People's Bank of China that can engage in domestic gold spot trading and gold transaction funds, and act as an agent of Shanghai Gold Exchange to handle gold physical storage, delivery, gold project Financing, interbank gold borrowing, leasing acquisition of gold, and gold retail business for residents. Unlike the physical gold investment launched by the Shanghai Gold Exchange, since 2003, the above -mentioned major banks have launched the paper gold business named after their respective banks, and at the same time act on the gold bar business launched by the Shanghai Gold Exchange.
The proportion of gold minerals accounted for nearly 80 %
In statistics from the China Gold Association, since my country became the world's largest golden production country in 2006, my country's gold production scale has been leading the world. In recent years, affected by factors such as the clearance of mining rights in the nature reserve, the transfer of mining rights transfer income, cyanockera as a hazardous waste management, and the exhaustion of mining resources, Henan, Fujian, Xinjiang and other key production funds (districts) of the mineral gold output The decline has led to a decline in gold production across the country. In 2021, the national gold output was 328.98 tons, a new low of five years.
In the first half of 2022, the re -production and resumption of Golden Manufacturing Enterprises in Shandong Province was significantly effective, and the production of mineral gold rose sharply by 123.64%. The recovery of the production of gold in gold has driven the sharp rise in the national gold production. In the first half of 2022, my country's gold output was 174.687 tons, an increase of 21.934 tons over the first half of 2021, an increase of 14.36%year -on -year.
From the classification of raw materials produced by gold, the current raw materials in my country mainly include gold ore and non -ferrous metal by -products. Among them, gold ore is the main source of gold production in my country. In recent years, with the improvement of non -ferrous metal refining technology, the gold shares produced by non -ferrous metal by -products in my country have continued to increase. above. By the first half of 2022, my country's gold minerals accounted for 79.7%of the total gold output.
Gold consumption is mainly gold jewelry
Gold consumption since 2017, the national gold consumption has shown a downward trend as a whole. With significant results, the overall domestic gold consumption remained restored and achieved rapid growth. The actual consumption of the national gold was 1120.90 tons, an increase of 36.53%compared with the same period in 2020.
The first half of 2022, due to the impact of the domestic epidemic, the high base of the year formed, the consumption of gold jewelry has fallen significantly, and the national gold consumption is 476.82 tons, a decrease of 12.84%compared with the same period in 2021.
It, from specific to the gold consumption structure, my country's gold consumption mainly includes three categories: gold jewelry, gold bars and gold coins, and consumption of industry and other fields. Among them, gold jewelry consumption occupies an absolute dominant position.
2022, my country's gold jewelry consumption accounted for 67.26%of the total gold consumption. In addition, the consumption of gold bars and gold coins accounted for 23.58%of the total consumption of gold; Essence
Surbing to the field of gold jewelry consumption, since 2017, my country's gold jewelry consumption has shown a downward trend. In 2021, the national hard -footed gold and ancient gold jewelry consumption has a strong consumption, which drives the overall strong rebound of gold jewelry consumption. 2021 2021 In the year, the consumption of gold jewelry in the country was 711.29 tons, an increase of 44.9%year -on -year. By the first half of 2022, my country's gold jewelry was 320.73 tons, a year -on -year decrease of 7.98%.
-For more industry research and analysis, please refer to the "China's Gold Industry Market Prospective and Investment Strategic Planning Analysis Report"