The subprime crisis in the US has shadowed the world. The US dollar is depreciating and the US stock market is suffering from big shocks. Many investors have turned to gold; subsequently gold prices have been going up rapidly. China is currently the second largest gold consumer in the world. The global gold market enjoyed a boom in 2007, this prosperity will continue in 2008, according to the latest report issued by the World Gold Council (WGC).
The demand for gold in China increased sharply last year, hitting 326.1 tons, with 26 percent growth compared to 2006 figures, making China now exceed America and Turkey.
"We can see the economic boom in China and the rising living standards of Chinese people from the huge demand for gold. We still need to make more efforts to promote China's gold market," said an insider.
For more details, please read the full story in Chinese (http://www.cs.com.cn/xwzx/05/200803/t20080303_1384003.htm).
(China.org.cn March 4, 2008)
