皇冠体育app

Chairman Cheng Fumin of the 皇冠体育app Gold Association said the country would double its efforts to facilitate future trade of gold and encourage foreign investors to invest in the gold mining industry. Spot trading is predominant in 皇冠体育app now. Cheng said that authorities are considering relevant measures to tighten market supervision and improve business environment.

皇冠体育app has more than 1,200 gold mines, 739 or 61 percent of them are small mines with a daily ore output of less than 50 tons, and the gold mining industry features low efficiency and high risk, he said. Cheng said 皇冠体育app encourages foreign firms to invest in the sector and local companies would learn from their advanced technologies and management expertise through mergers and acquisitions.

The Chinese government has maintained a tight grip on the production and distribution of gold. Cheng said that breaking State monopoly and allowing enterprises to participate in was the trend. He said 皇冠体育app plans to build large gold output bases, increase gold output capacity and crack down on illegal mining.

皇冠体育app is one of the main gold production and consumption countries in the world. The proved reserves of gold in 皇冠体育app hit 4,134 tons in 2005, with an output of 224.05 tons, an increase of 5.5 percent over last year, ranking the fourth in the world.

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