China's Gold Market: Progress & Prospects
Wednesday, June 18, 2014
The growth of China’s gold market has been phenomenal. China went from accounting for 7% of global gold demand in 2003 to 26% in 2013. Jewellery demand more than trebled and, once the prohibition of private ownership of gold bullion was lifted in 2004, investment demand soared. The World Gold Council recently produced a report considering the reasons behind this growth and exploring what the future holds for China. A synopsis of this report is reproduced here by Alistair Hewitt.
Alistair Hewitt, Head of Market Intelligence, World Gold Council
Alistair Hewitt manages the World Gold Council’s Market Intelligence programme. The Market Intelligence team is responsible for producing insightful research on the gold market, including its quarterly flagship publication, Gold Demand Trends . Alistair joined the World Gold Council from the Bank of England where he managed its Market Intelligence activities and, before that, was the Bank’s Deputy Agent for the North East England.