• <abbr id="ck0wi"><source id="ck0wi"></source></abbr>
    <li id="ck0wi"></li>
  • <li id="ck0wi"><dl id="ck0wi"></dl></li><button id="ck0wi"><input id="ck0wi"></input></button>
  • <abbr id="ck0wi"></abbr>
  • <li id="ck0wi"><dl id="ck0wi"></dl></li>
  • Home >

    Gold Holdings Have Only Just Begun For China.

    2016/9/13 15:56:00 29

    GoldFinanceInvestment

    Despite recent holdings, China is still low in gold. The central bank began issuing monthly data on gold reserves in June last year. Gold reserves jumped 57.3% during the current period and have increased by 10.6% since then. In the past 14 months, the Central Bank of China has increased 175.1 tons of gold, which is only 262.6 tons behind Russia, equivalent to 48.7% of the total world gold reserves in the same period. As the largest gold mining country in the world, China does not seem to have enough gold. The central bank can buy gold through two markets at home and abroad. At present, Switzerland, Hongkong and South Africa are the main source of gold imports in China.

    From the peak of US $3 trillion and 990 billion in June 2014 to US $3 trillion and 190 billion in August 2016, China's foreign exchange reserves decreased by 20.2% - although 31.3% of the decline was due to the negative valuation effect of exchange rate fluctuations. Over the same period, China's gold reserves increased sharply from 1054.1 tons to 73.9% tons to 1833.5 tons, forming a clear contrast. Compared with other countries, is China's gold holdings large?

    Nevertheless, China gold Reserves are currently only sixth of the world, equivalent to 75.1% of France (fifth) and 22.5% of the United States (No. 1). From the perspective of the ratio of gold reserve to GDP, China is only 16.9% of France and 38.5% of the United States. From the perspective of the ratio of gold reserves to population, China is only 3.5% of France and 5.3% of the United States. Gold accounts for 2.4% of China's reserve assets, much lower than France's 66.5% and US's 75.6% (Chart 5). As the largest gold mining country in the world, China does not seem to have enough gold.

    The central bank's holdings of gold may help to diversify investment in reserve assets. 97.1% of China's reserve assets are foreign exchange reserves, accounting for about 29.4% of the world's foreign exchange reserves. Therefore, interest rate and exchange rate fluctuations in reserve currency issuing countries will impact China's national wealth, not to mention the negative interest rate of a large number of sovereign bonds. The diversification of Reserve Investment naturally requires increasing the allocation of gold in the portfolio.

    Supporting RMB reserve currency Status enhancement. The position of the US dollar in international reserve currency is closely related to gold. Under the Bretton Woods system, the US dollar directly linked to gold and played a positive role in replacing the pound with the US dollar as the main reserve currency. After the breakup of the Bretton Woods system, the United States still sits on the world's largest gold reserve, accounting for 24.7% of the world's official holdings. The increase in gold reserves can further consolidate the market. RMB The confidence in China and the internationalization of RMB will in turn reduce China's holdings of foreign exchange reserves.

    Paving the way for commodity pricing. In April of this year, China launched the RMB benchmark gold benchmark price ("Shanghai gold"), which was determined by the Shanghai gold exchange daily through two centralized bidding. Although this has not yet had a substantial impact on global gold pricing, with the internationalization of RMB, it will eventually help China acquire more precious metal pricing power. Official gold reserve is the basic safety net in the gold market.

    Liang Hong predicted that, according to the average growth rate over the past 14 months, even if the gold reserves of the former official institutions remained unchanged, China would not be able to catch up with France, which was the top one before 2020. Such a large-scale gold purchase in China may push up the price of gold, which requires the central bank to choose the right time window and gradually increase its holdings. Besides buying, China should also participate more in gold production through overseas gold mining.


    • Related reading

    Valuation Level: P / E, Market Rate And Yield Of Treasury Bonds

    Financial Dictionary
    |
    2016/9/6 11:58:00
    52

    "Asset Shortage" Seems To Have Never Left The Field Of "Money" Has Become The Biggest Problem.

    Financial Dictionary
    |
    2016/9/5 17:16:00
    36

    The Loss Of Data In The Rise Of The Third Party Mobile Payment Is A Big Problem.

    Financial Dictionary
    |
    2016/9/5 15:14:00
    88

    The Fund Company Maintained A Stable Mentality At The Middle Stage.

    Financial Dictionary
    |
    2016/8/9 14:52:00
    24

    How Big Is The Influence Of RMB Devaluation?

    Financial Dictionary
    |
    2016/8/8 20:23:00
    28
    Read the next article

    The Stock Market Crash Makes People Cool, And The Fund Begins To Pursue "Security" Assets.

    Short term market sentiment is in the doldrums, and fund layout is pursuing "security" assets. Next time, everyone will follow the world's clothing and shoe net to see the detailed information.

    主站蜘蛛池模板: 国产AV无码专区亚洲AV琪琪| 精精国产xxxx视频在线播放| 欧美乱子伦xxxx| 好男人好资源在线观看免费| 又粗又长又爽又大硬又黄| 中文字幕精品在线视频| 蜜桃成熟时无删减手机在线观看 | www.天天射.com| 精品一区二区三区四区在线 | 国产成人亚洲精品无码av大片| 亚洲av中文无码乱人伦在线观看| www视频免费看| 最近2018免费中文字幕视频| 国产性生活视频| 久久久综合香蕉尹人综合网| 色老头久久久久| 成人亚洲欧美日韩中文字幕| 免费绿巨人草莓秋葵黄瓜丝瓜芭乐| youjizz欧美| 激情爆乳一区二区三区| 国产精品素人福利| 亚洲Av人人澡人人爽人人夜夜| 黄色网站免费在线观看| 日本不卡一二三| 午夜影院老司机| 99精品视频在线观看免费| 欧美日韩亚洲一区二区精品| 国产理论视频在线观看| 久久亚洲国产欧洲精品一| 美女和男生一起差差差| 奇米精品视频一区二区三区| 亚洲欧美日韩综合一区| 亚洲制服欧美自拍另类| 日本高清无卡码一区二区久久| 国产99久久精品一区二区| jizzjizz之xxxx18| 欧美成人秋霞久久AA片| 国产性夜夜夜春夜夜爽| 中文字幕一区在线| 波多野结衣视频在线免费观看| 国产精品久久久福利|