Golden time for miners on demand, high prices
Updated: 2007-02-28 10:34
(China Daily 02/28/2007 page15)

Gold output in China, the world's fourth-biggest producer of the precious metal, is set to maintain strong growth momentum this year, boosted by robust demand and bullish prices.

The National Development and Reform Commission (NDRC), China's top industry regulator, said on February 14 that the nation's 2007 gold production would reach 260 tons. This will represent an 8 percent increase from last year.

Zhang Yongtao, deputy secretary general of the China Gold Association, told China Daily gold production would climb by 5 to 6 percent this year from 2006.

中国是世界第四大黄金生产大国，由于需求旺盛，金价看涨，今年中国的黄金产量将保持强劲的增长势头。

二月十四日国家发改委称，2007年中国的黄金产量将达到260吨。这个数字较去年增加8%。

中国黄金协会副秘书长张永涛（音）对《中国日报》说，今年中国的黄金产量将会比2006年增长5%至6%。

"Domestic gold miners will further speed up production this year, inspired by strong demand and high prices," Zhang said.

He predicted China would be the world's No 3 or even No 2 gold producer in 2008, according to current growth.

Last year, the country's gold production rose by 7.15 percent to 240.08 tons, behind South Africa, Australia and the United States, according to data from the Beijing-based gold association.

Cui Lin, an analyst with Antaike Information Development Co Ltd, the Beijing-based metal industry consultancy, said gold production in China is expected to increase by as much as 7 percent this year.

“由于需求旺盛价格看涨，国内的金矿企业今年将会加快生产步伐，”张永涛说。

他预测说，按照目前的增长速度，2008年中国将会成为全球第三号甚至是第二号黄金生产商。

根据中国黄金协会的数字，中国去年的黄金产量比上年增加了7.15%，达240.08吨，次于南非、澳大利亚和美国。

安泰科信息开发公司，一家总部在北京的金属咨询公司的分析师崔玲（音）表示，今年中国黄金产量的增长率预计将会高达7%。

"Gold prices will continue to be on the bullish side and Chinese incomes will continue to grow steadily this year. Miners will produce more gold to satisfy mounting demand," Cui said.

NDRC said earlier this month that total gold production in the country would reach 1,300 tons from 2006 to 2010.

And it expected a total of 3,000 to 3,500 tons of gold mineral resources to be found in China.

Domestic gold miners have increased spending on prospecting and exploration considerably since 2001, when gold prices started to climb, according to Cui.

“今年的金价将继续上扬，人民的收入将继续稳步增长。黄金生产商将会生产更多的黄金来满足不断增长的需求，”崔玲说。

本月早些时候国家发改委称，2006年至2012年国家的黄金总产量将达到1300吨。

中国探明的金矿总储量预计将会达到3000吨至3500吨。

崔玲说，自从2001年黄金价格开始攀升以来，国内黄金矿产企业增加了探矿勘查的投入。

Statistics from the gold association showed the average price of aurum-99.99 gold in China rocketed by 32.35 percent, or 37.95 yuan per gram, last year from 2005.

Domestic gold prices began fluctuating in line with changes in the world's market in 2001 when the Shanghai Gold Exchange, China's sole national bourse for the metal, was formed in a move to open up the gold market.
 
The London Bullion Market Association recently predicted world gold prices would stay at $652.38 per ounce this year, up from less than $310 in 2006.

Consumer demand for gold in China will continue to grow this year following consecutive increases over the past four years, according to the World Gold Council, the London-based gold marketing organization funded by the world's leading gold miners.

中国黄金协会的统计数字显示，中国99.99黄金的平均价格2006年较之于2005年飙升了32.35%，每克飙升了37.95元。

中国为了推动黄金市场的对外开放，在2001年成立了国内唯一的贵金属交易所—上海黄金交易所，从那时起，国内黄金价格开始与世界市场价格同步起伏。

伦敦黄金市场协会最近预测，今年黄金价格会停留在每盎司652.38美元，而2006年的平均价格则略低于310美元。

根据世界黄金协会——一家总部设在伦敦，由世界顶级黄金企业出资设立的黄金营销组织预测，中国黄金的消费需求继连续四年的逐年上升之后，今年仍将保持上升势头。

The gold council earlier told China Daily that prospects for gold demand in China looked promising this year.

"Commemorative bars and coins for the forthcoming Year of the Pig have been selling rapidly since the last weeks of 2006 as the pig is the symbol of wealth and prosperity," the council said.

"Demand for both jewelry and investment products has reportedly been brisk in the first weeks of 2007 in the run-up to the Chinese New Year."

And the 2008 Beijing Olympics has spurred strong demand. "Olympic bars and coins also remain popular."

中国黄金协会早些时候对《中国日报》表示，今年中国的黄金需求前景仍将看好。

“从2006年最后几周开始，猪年的纪念品金条和金币一直畅销，猪在中国人眼中是财富的象征，”黄金协会说。

“2007年开头几个星期的中国新年期间，珠宝首饰和投资产品的需求都很旺盛。”

2008年北京奥林匹克运动会更加激励了民众对黄金的需求。“奥林匹克金条和金币一直很受欢迎。”

Last year, consumer demand for gold in China totalled 259.6 tons, up 3 percent from 2005, according to data from the gold council.

The figure maintains China's position as the world's No 3 gold consumer after India and the United States.

The 2006 demand consisted of 244.7 tons for jewelry, up 1 percent, and 14.9 tons in the form of net retail investment, an increase of 27 percent.

Trading volume at the Shanghai Gold Exchange, where there are 149 members conducting spot transactions with renminbi, jumped by 37.81 percent to 1,249.29 tons last year from 2005.

根据黄金协会的数字，去年中国的黄金消费需求总量达到259.6吨，较2005年上升了3%。

这一数字使中国的黄金消费稳居世界第三，次于印度和美国。

2006年中国的黄金需求总量中，珠宝首饰业为244.7吨，同比上升1%，零售投资净额为14.9吨，同比增长27%。

拥有149家会员的上海黄金交易所去年使用人民币的黄金现货交易总量达到了创纪录的1 249.29吨，比2005年增长37.81%。

Albert Cheng, managing director of the World Gold Council Far East, suggested China should cancel its 17-percent value-added tax on physical gold trading to boost development of the gold market. The tax has been levied since 2005.

The gold council earlier predicted that consumer gold demand in China would reach 600 tons annually in coming years as a result of further opening of the domestic gold market.

Gold producers in China are benefiting from strong demand and bullish prices.

According to data from NDRC, the nation's gold mining sector reported 6.5 billion yuan in 2006 profits, surging 63 percent from the previous year.

世界黄金协会远东分会的常务董事阿尔波特•陈建议中国取消从2005年开始征收的17%实金交易增值税以促进黄金市场的发展。

中国黄金协会早些时候预测，由于国内黄金市场的进一步开放，在未来几年中国黄金的年均消费量将会达到600吨。

中国的黄金生产商从旺盛的需求和上扬的价格中受益良多。

根据国家发改委的数据，2006年中国黄金生产部门的利润达65亿元，与上年相比飙升了63%。