China might import more gold

时间：2007-10-24 03:31:41

（单词翻译:单击）

Chinanews, Beijing. October 23 – Due to the sag1 of US dollar and the unstable2 geopolitics, the international gold price has hit a new high in 28 years at $770.25 per ounce. Taking the increasing demand for investment on gold and gold-related products in China into consideration, China might import more gold in the future.

 

The demand for investment on gold, gold stock share and paper gold in both India and China has been increasing greatly. “It is estimated that there will be supply-demand gap in the gold market next year, and China might increase gold import by then,” said Zhang Weixing, an analyst3 at an investment briefing in Beijing on October 20.

 

Currently, there are 4,000 tons of gold kept by the Chinese people, and the central bank of China has a gold reserve of 600 tons. The average consumption of gold in China is 0.35 g per capita every year, higher than the 0.16 g in 2002, but still lower than the international level.

 

It is estimated that the amount of gold in China will increase by 240 tons annually4, worth approximately 43.2 billion yuan, about 30 yuan per capita. Gold being an international tool of investment, will definitely attract more Chinese investors5 in the future. By last September, there were 1.47 trillion yuan of capital in the Chinese stock market, thus it is easy for the gold market to digest the 43.2-billion-yuan growth.

 
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1 sag YD4yA     
v.下垂，下跌，消沉；n.下垂，下跌，凹陷，[航海]随风漂流
参考例句：
  • The shelf was beginning to sag beneath the weight of the books upon it.书架在书的重压下渐渐下弯。
  • We need to do something about the sag.我们须把下沉的地方修整一下。
2 unstable Ijgwa     
adj.不稳定的，易变的
参考例句：
  • This bookcase is too unstable to hold so many books.这书橱很不结实，装不了这么多书。
  • The patient's condition was unstable.那患者的病情不稳定。
3 analyst gw7zn     
n.分析家，化验员；心理分析学家
参考例句：
  • What can you contribute to the position of a market analyst?你有什么技能可有助于市场分析员的职务？
  • The analyst is required to interpolate values between standards.分析人员需要在这些标准中插入一些值。
4 annually VzYzNO     
adv.一年一次，每年
参考例句：
  • Many migratory birds visit this lake annually.许多候鸟每年到这个湖上作短期逗留。
  • They celebrate their wedding anniversary annually.他们每年庆祝一番结婚纪念日。
5 investors dffc64354445b947454450e472276b99     
n.投资者，出资者( investor的名词复数 )
参考例句：
  • a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
  • a cash bonanza for investors 投资者的赚钱机会

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