The Phaserl


China Moves To Hide Massive Gold Purchases

By Adam English, Outsider Club:

In a move to expand import capacity, Chinese officials have announced that gold imports will be allowed to flow directly through the capital of Beijing.

This is in addition to imports through Shenzhen, Shanghai and Hong Kong. However, the new move could threaten business in the latter.

While information on imports through Shenzen and Shanghai is scarce and unreported by the Chinese government, Hong Kong discloses how much it buys and sells. $53 billion in gold is known to have shifted to the mainland in 2013 as a result of Hong Kong’s reporting rules.

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