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China to Seek More Overseas Investment for Gold Exploitation
China will bring in more investment and up-to-date technology from abroad to mine for and collect its gold resources, a senior Chinese trade official said Thursday.
The country will open more fundraising channels to help pay for the mining of gold and adopt a multi-outlet investment system, said Wang Dexue, director-general of the Gold Administration under the State Economic and Trade Commission (SETC), at the Fourth China (International) Gold and Rare Metal Annual Symposium, which opened today in Zhaoyuan, in east China's Shandong Province.
China will shift its emphasis of mining for gold in the east and central areas to the western part of the country, Wang said.
More than 370 people from 21 countries and regions attended the opening ceremony. The symposium will concentrate on the establishment of a gold market in China and how it adapts to the global gold market as well as the influence of the operation, laws and industrial framework of the global gold market on the reform of China's gold market.
Zhaoyuan was picked as the venue for the symposium because it is the largest gold producing county in China.
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