ALCHEMIST: China's Golden Appetite - Official Data At Last

China is the world’s largest purchaser of gold and relies on imports for most of its requirements. But, historically, it has not published gold trade data, meaning that analysts have had to develop various proxies in order to track its import appetite. That has now changed. Since the 1950s, the World Customs Organisation (WCO) has developed a classification system for global trade known as the Harmonised System (HS), with gold coming under chapter 71, subchapter 08, known as HS 7108, titled ‘Gold (including gold plated with platinum) unwrought or in semi-manufactured forms, or in powder form’.

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