采访编辑/张天宇 后制/ 李勇
Who is behind Chinese Aunty for buying Gold?
According to the World Gold Council, due to soaring demand,
China replaces India to become the largest gold consumption market in the world.
Chinese Aunty once shocked the tycoons of Wall Street by their crazy behavior in the purchasing of gold, which also once became the focus of the international market.
Meanwhile, more information reveals that the Central Bank of the Chinese Communist Party (CCP) is hiding behind the Chinese Aunty and secretly purchasing gold for reservation. Analysts say, the CCP is preparing for an impending major financial crisis.Let’s watch the reports from our correspondent Mr Zhang Tianyu.
According to the report, although the gold price dramatically dropped 28% and
the overall global gold demand in 2013 was 15% lower than in 2012, Chinese investment in gold was up 38% to 1,066 tons, more than the 975 tons of India.
China has become the largest gold consumption market in the world and accounts for one third of the global market.
The Wall Street Journal reviewed the result:
Dramatically fluctuating gold price scared the investors off.
However, in China, the buyers still keep buying in.
Especially, in April of last year, when gold price dramatically reduced 15%, Chinese Aunty crazily bought in gold.This shocked the world.
But the analysts generally say,such a seeming crazy shopping behavior
that Chinese Aunty kept buying in gold without considering the huge risks
of ongoing dropping gold price in the future,actually releases the investment anxiety of ordinary Chinese people.
Precious metal investment platform “Silver World" gold analyst Cheng Yuanfan emphasizes
the investment circumstance in China:"To invest the property market needs a very large amount of money and a long time cycle and faces a macroeconomic intervention, which caused serious bubbles in the property price".
Wall Street Journal points out,the possibility of Chinese economy slowing down produces property bubbles, and the concerns of vulnerable financial system, pushed the enthusiasm of buying in gold, especially considering the limited attractive investment options for gold retail investors in the China market.
Mainland financial analyst Ren Zhongdao: “A Chinese old proverb says, antique is valuable in a time of national peace and order, whereas gold is valuable
in a time of national chaos. The rare nature of avoiding risk with gold has been verified during the past several thousand years. Whatever wars or plight of economy the country encounters,gold can play its monetary role and reflect its value. Because the Chinese economic situation is very bad, the ordinary people hope to reserve some gold for converting into cash in case of the worst situation."
A saying is widely spread among international investment community:
the Central Bank of the CCP is silently increasing gold reserves.
Ren Zhongdao: “According to the published data during prior periods, China has the largest gold export and import in the world.If we compare the exported gold of all countries,then we can spot an issue-Chinese Aunty has no ability to buy so much gold. By the simplest way,we can find more than 500 tons of gold is lost.Actually, only the Central Bank of the CCP has such a big power."
The largest import source of China is Hong Kong. Hong Kong Statistics Bureau issued latest data on January 27, which shows the net imported gold of Mainland China reached a record of 1,108 tons with a growth rate of 33%.
American Bloomberg News says, a large amount of gold exported from the US, UK, Switzerland etc, probably flows into China.
Yonhap News Agency reported on December 11 of last year, during a couple of months, North Korea exported a considerable amount of gold to China.
From the above analysis, last year the gold imported into China was far more than the gold consumed in China. This excludes the gold produced in China,
which has been number one in the world during the past seven years.
According to the Bloomberg News, till last November, China’s gold production had increased year by year since 2010, but the produced gold has never flown out to overseas.
So, what is such a large amount of gold reserved for by the CCP Authorities?
Ren Zhongdao: “because economic issues continue to emerge, RMB has continually depreciated despite a large amount of foreign currency at hand.Gold is still regarded as a promising alternative monetary. So in order to cope with the upcoming crisis, the Central Bank of the CCP is still continually
and confidentially reserving it without disclosing the information.
If China’s economy really collapses, then by using the reserved gold in the world, the CCP Authorities can sustain a longer period."
Although the China Central Bank published the official gold reserve standing at 1,054 tons in 2009 during the past five years, the international market estimates the actual gold reserve at minimum reached 5,000 tons.
Interview & Edit/Zhang Tianyu Post-Production/LiYong