China’s gold imports from Hong Kong reach 109 tonnes in February
Duncan Richardson, News Editor
26 Mar 2014, 11:01 a.m.
According to data released from the Hong Kong Census and Statistics Department, China imported 109.2 tonnes of gold from Hong Kong in February. Not only were net imports 30% higher than January, but 79% greater than recorded in January 2013. These latest figures contradict recent reports which suggested that gold demand in China was slowing with many experts originally forecasting demand to slow in February following the Chinese New Year.
China overtook India as the largest importer of gold last year with imports increasing from 807 tonnes to 1,065 tonnes. In 2013, India and China accounted for more than 50% of the world’s gold demand.