China Lowers Gold Prices 　　The People's Bank of China (PBOC), the nation's central bank, announced Thursday that the prices for buying and selling gold on the domestic market will be lowered effective from July 15. 　　According to the announcement, the purchase price for one gram of gold will be lowered from 72.64 yuan to 69.9 yuan, while the selling price will be cut from 74.1 yuan to 71.3 yuan. 　　This adjustment has been made in accordance with gold price changes on the international market. 　　The use of price control to adjust gold prices is actually a way of adapting gold prices to the market, and that this will have a good effect on the gold industry and the jewelry and related businesses. Economicnews 1999-07-16 Page5 Full Story in Chinese