Bullion Dealers China

Buying Bullion In China

The Chinese bullion market is on a massive scale, with many Chinese families looking to gold as a store of family wealth.

According to the World Gold Council (WGC) as of October 2017, the Chinese central bank holds 1842.6 tons of gold, equivalent to 2.3% of its total reserves, up from 0.9% in 2008’s official figures.

Alternate sources suggest this figure is substantially higher at between 20,000 – 30,000 tonnes making it the world’s number one gold holding ahead of the US’s 8133 tonnes.

Most physical gold purchasing in China happens through Hong Kong registered companies due to preferential taxation, lower premiums and the complex legalities involved in bringing gold onto mainland China, entering it’s domestic market.

Unlike the West, gold premiums in China are highly variable depending on demand levels. When spot prices drop, premiums rise as more buyers enter the market and so for stability, China’s elite classes and wealthy families buy and store their precious metals outside of China with Dubai being particularly popular.
 

IMPORTANT: The above tax details are listed for information purposes only and are believed correct at time of publication. Bullion.Directory are not tax experts. All enquiries about Chinese taxes should be addressed to the appropriate local body. Taxes and taxation are subject to change.