What you need to know about China’s gold
Victoria Hewitt-Marsh, News Editor
13 Mar 2014, 10:31 a.m.
The last time China reported its official gold holdings in 2009 their reserves stood at 1,054 metric tons.
In 2013, China’s gold consumption was estimated at 2,400 metric tonnes.
It is illegal to export gold out of China.
The Chinese government encourages their citizens to buy physical gold.
In 2013, China surpassed India as the largest importer of gold.
China buys gold to build up its foreign wealth fund for future generations.
In the last 13 years, gold priced in Yuan has risen by 240% making Chinese consumers extremely happy with the performance of their gold.
Swiss refiners are working around the clock to meet Chinese demand.