China’s gold production of the same year was 200 tons. A sound prospect for Chinese gold market is unfolding. International gold market and colleagues present at this conference have paid a lot of attention to the past and present of Chinese gold market, but the future of a reformed and open market is of even greater concern to all of us.
So today, I would like to associate myself in the discussion of the future of the market where I see three transformations: first, transformation from a market majoring in commodity transactions to financial transactions; second, transformation from spot transactions to futures transactions; third, transformation from a domestic market to an international market. 1.