Chinese gold imports from Hong Kong jump 27% in Quarter 1
Duncan Richardson, News Editor
29 Apr 2014, 10:37 a.m.
Mainstream media have been quick to report that Chinese gold imports from Hong Kong fell from 111 tonnes in February to 81 tonnes in March. However, when Q1 data is compared against the corresponding period in 2013, it is clear Chinese gold imports from Hong Kong actually increased by 27%. Rather than suggesting a slowdown these figures indicate China’s appetite for gold remains as strong as ever.
In 2013 China imported 1,139 of gold form Hong Kong, double amount they imported in 2012, and in doing so overtook India as the world’s largest consumer of gold.