Integrating innovation to jointly paint a grand blueprint for development, and pursuing win-win cooperation to jointly create a golden future. 7 Moon 27 The event, jointly hosted by the China Gold Association and the World Gold Council, is held on [date]. 2016 The China International Gold Conference has opened in Beijing. Industry elites from around the globe have gathered to exchange ideas and learn from one another under the theme of "Gold, Innovation, and Development." They will engage in in-depth discussions on the changing global economic landscape and trends in the gold industry, thereby promoting the healthy and sustainable development of the gold sector.

　　This morning 9 At the Beijing International Conference Center 3 The conference hall was packed, and the atmosphere was lively. 2016 The opening ceremony of the China International Gold Conference is being held here with great solemnity.

　　Yang Ziqiang, Assistant Governor of the People's Bank of China; Wang Dexue, former Deputy Director-General of the State Administration of Work Safety; Zhou Changyi, Director of the Raw Materials Industry Department of the Ministry of Industry and Information Technology; Song Xin, President and Party Secretary of the China Gold Association and General Manager of China National Gold Corporation; Thierry Sallé, CEO of the World Gold Council; Zhang Tao, Deputy Director of the Office for Liaison with Industry Associations under the State-owned Assets Supervision and Administration Commission of the State Council; Wang Jingdong, Vice President of the Industrial and Commercial Bank of China; Dhlamini Msimang, Ambassador of South Africa to China; Cyrus, Permanent Deputy Minister of the Department of Minerals and Petroleum of the Western Australian Government; Lu Haiping, Minister Counselor representing the Director-General of the General Directorate for Mining Coordination of Mexico; and Gérard, Head of Sectoral Programs at the Organisation for Economic Co-operation and Development—attended the opening ceremony and delivered speeches.

　　In recent years, China’s gold industry and gold market have experienced rapid and remarkable development, achieving leapfrog progress across the entire industrial chain—from exploration and mining to beneficiation, trading, design, processing, consumption, and investment. For many consecutive years, China has ranked first in gold production, gold consumption, gold processing volume, gold imports, and spot gold trading volume. Moreover, its gold futures trading volume has consistently remained among the highest globally, and its influence on the global gold industry and gold market development has been steadily growing.

　　“The gold market is an important component of China’s financial market, and developing the gold market can better meet the growing investment needs of residents,” Yang Ziqiang pointed out. 2004 Since the beginning of this year, the People's Bank of China, in accordance with Governor Zhou Xiaochuan’s “three transformations” requirements for the gold market, has actively implemented a variety of measures to further clarify the functional positioning of the market, comprehensively manage on-exchange gold trading venues, prudently develop new over-the-counter gold businesses, and severely crack down on illegal gold trading activities, thereby vigorously promoting the development of the gold market. Currently, China’s gold market has basically established a multi-tiered and diversified market service system centered on the Shanghai Gold Exchange’s on-exchange spot gold market, complemented by the Shanghai Futures Exchange’s gold futures market and commercial banks’ over-the-counter gold markets. This system features a comprehensive range of products and diverse services, effectively meeting the market demands of investors with different profiles.

　　As an international platform established for mutual learning, exchange, and cooperation within the global gold industry, the convening of this conference marks a brand-new, high-level starting point in the historical development of China’s gold industry. It will play a crucial strategic role in further opening up China’s gold sector, promoting international exchanges and cooperation, and fostering the common development of the gold industries across various countries.

　　“As a veteran who has worked in the gold industry for many years, I feel deeply gratified and inspired to see such remarkable achievements in China’s gold sector,” Wang Dexue said with heartfelt emotion. He added that the China International Gold Conference has created a Chinese platform for the global gold industry’s development, amplified China’s voice in the international gold market, told the story of China’s gold market, and highlighted the value of China’s gold market in the global arena.

　　In recent years, China’s gold industry has vigorously implemented a “going global” development strategy. Through various approaches—including overseas capital investments, exploration and discovery of resource reserves, and acquiring controlling or minority stakes in foreign enterprises—it has been tapping into international resources and expanding into overseas markets. Wang Dexue believes that we should seize, grasp, and make good use of this opportunity for international cooperation, engaging in mutual exchanges and leveraging each other’s strengths while making up for our weaknesses. Guided by the five development concepts, we must remain steady yet strive for progress, deepen reform, further open up to the world, make effective use of both domestic and international resources, explore more mineral deposits, produce more gold, earn more profits, and make greater contributions.

　　“As China’s gold industry integrates into the global trend of industry development, it will radiate boundless vitality and dynamism. Only by firmly upholding the safety red line can we secure an even brighter future,” said Wang Dexue.

　　In Zhou Changyi’s view, gold—a special commodity with dual attributes as both currency and commodity—plays a uniquely important role in the development of the national economy and is of great significance to the healthy development of China’s economy and even global development. Especially at a time when the internationalization of the renminbi is accelerating, gold’s strategic value is becoming increasingly prominent.

　　Zhou Changyi pointed out that as gold’s strategic importance continues to rise, increasing production and improving efficiency have become crucial directions for the future development of China’s gold industry. In recent years, China’s gold industry has experienced rapid growth, and its industry management system has been continuously refined. The country has achieved internationally leading levels in technologies such as deep-mining and the processing of refractory ores, creating favorable conditions for the industry to shift from large-scale to strong-scale development. However, we must also recognize the challenges that remain in areas such as resource security, safety management standards, and the quality and efficiency of development. Today, China’s gold industry is poised to seize a golden opportunity for internationalization, and it needs to take the “Five Development Concepts” as its guiding principle and make concerted efforts to enhance its level of internationalization.

　　As representatives of the conference organizers, Song Xin, President of the China Gold Association and General Manager and Party Secretary of China National Gold Corporation, and Michael Spies, CEO of the World Gold Council, delivered important speeches respectively.

　　Song Xin pointed out that, in recent years, against the backdrop of persistently low gold prices, China’s gold industry has promptly adjusted its development strategy and production and operational tactics, striving to shift from a scale-expansion model to a quality- and efficiency-driven one. The industry has vigorously promoted supply-side structural reform, accelerated the integration of resources and the pace of enterprise mergers and reorganizations, raised industrial concentration, eliminated outdated production capacity, and resolutely shut down small gold mines that pollute the environment or fail to meet safety production standards. It has also adopted refined management practices, benchmarked itself against outstanding enterprises both domestically and internationally, as well as within and outside the industry, identified weaknesses in cost control, strengthened management of production operations and construction projects, optimized the “five rates,” reduced the “five expenses,” and advanced full-process cost management, continuously enhancing enterprises’ cost-control capabilities and overall competitiveness. Furthermore, the industry has stepped up efforts in scientific and technological innovation, establishing strategic alliances for technological innovation in the gold sector, focusing on tackling key technical challenges that have long constrained industry development—such as deep-well mining, the exploitation of difficult-to-process gold ore resources, and environmental remediation—thereby providing sustained momentum for industry growth. The industry is also working to extend and improve the gold value chain, strengthening communication and complementary collaboration among upstream and downstream gold enterprises to promote coordinated development. Moreover, it is advancing the internationalization of the gold market, perfecting market functions, enhancing the market’s service level for the real economy, and bolstering China’s voice and influence in the international gold market. Finally, the industry is accelerating its “going global” strategy, globally allocating and developing gold resources, and building first-class gold enterprises with international competitiveness.

　　In today’s era of global economic integration, the interaction and integration between China and the world are deepening steadily. The development of the global gold industry is inseparable from China, and China’s own gold industry cannot thrive without deep international cooperation. Song Xin said: “Cooperation and integration will shape the future of the global gold industry. The gold industries of China and other countries should broaden their areas of cooperation in such fields as technology, resources, standards, management, industrial chain extension, research and development and application of high technologies, and innovation in market models. They should also innovate cooperation models, elevate the level of cooperation, and through sincere and effective collaboration, strive for common progress and development, thereby promoting the harmonious, healthy, and sustainable development of the global gold industry and gold markets.”

　　Shi Anmu pointed out that in the new normal characterized by geopolitical conflicts, economic turbulence, negative interest rate policies adopted by central banks worldwide, and growing skepticism toward the credit-based monetary system, gold is playing an increasingly important role in global economic development. Individuals, families, and nations alike are turning to gold as a safe haven. Gold plays a unique and crucial role in global economic and financial security. Over the past fifteen years, China’s gold market has experienced rapid growth and has gradually become a cornerstone of the global gold industry—shifting from being a follower to a leader in the sector. As China rises on the global stage, opportunities for international cooperation within the gold industry will also continue to multiply.

　　“A new chapter in the global gold industry is about to be turned.” Zhang Tao highly praised this International Gold Conference and the role played by the China Gold Association in the development of the industry.

　　Zhang Tao stated that the China Gold Association is the national industry organization for China’s gold sector. It plays an irreplaceable and vital role in serving enterprise development, leading industry progress, assisting the government in macroeconomic regulation, fostering harmony between the industry and society, and promoting international exchanges and cooperation within the gold industry. In recent years, the China Gold Association has actively established various platforms for exchange and service promotion, committing itself to addressing critical and strategic issues facing the industry, strengthening self-regulation and standardization, enhancing the industry’s standing, supporting the formulation of national strategies, facilitating resource integration, building a green industry, driving technological innovation, regulating the gold market, boosting gold consumption, guiding enterprises in fulfilling their social responsibilities, and actively strengthening international exchanges and cooperation—all while achieving remarkable and effective results.

　　Thanks to multifaceted efforts, China’s gold market has undergone profound transformations. Wang Jingdong pointed out that with the shift of gold trading from west to east, the participation of China’s four major commercial banks in London gold pricing, and the launch of the International Gold Board and the “Shanghai Gold” pricing mechanism, China’s gold market has significantly enhanced its international influence. As a commercial bank leading the domestic precious metals sector, the Industrial and Commercial Bank of China will play an even greater role in further establishing China’s gold market as a more prominent and integral part of the global gold landscape.

　　In their remarks, foreign government officials—including Dorana Msimane, Cyrus, and Lu Hai—shared insights from their respective countries’ perspectives on topics such as their domestic mining development environments, gold resource reserves, and exploration and development policies. They all expressed that Chinese gold enterprises are increasingly integrating into the global gold industry and actively promoting its development. They also expressed their willingness to engage in deepened cooperation with China’s gold industry, leveraging each other’s strengths for mutual benefit and integrated development.

　　Gillard stated that, in the current international economic environment—characterized by low interest rates adopted by central banks worldwide, sluggish performance in international trade, and a rising trend of protectionism—gold has stood out remarkably among various investment options as a safe-haven asset. Yet precisely at times like these, gold trading institutions need to engage in transparent and responsible gold trading practices. Global gold trading institutions should collectively adhere to the guidelines set forth by the Organisation for Economic Co-operation and Development (OECD). OECD the relevant rules, strictly enforce the non-conflict gold policy, and prevent illegal anti-money-laundering activities from occurring in the gold sector.

　　Ji Zhihong, Director of the Financial Markets Department of the People's Bank of China; Pei Wentian, Director of the First Supervision Division of the State Administration of Work Safety; Jiao Jinpu, Chairman and Party Secretary of the Shanghai Gold Exchange; Song Anping, Chairman and Party Secretary of the Shanghai Futures Exchange; Liu Bing, Deputy General Manager of China National Gold Corporation; Chen Jinghe, Chairman of Zijin Mining Group Co., Ltd.; Lu Dongshang, Chairman and Party Secretary of Shandong Zhaojin Group Co., Ltd.; Liu Yuqiang, Executive Vice President of the China Mining Association; Cui Lun, Deputy General Manager of Shandong Gold Group Co., Ltd.; Wang Shengbin, Vice President of the China Gold Association; Cui Jianguo, Vice President of the China Gold Association and Party Secretary of the China Gold News Agency; and Wu Jun, Chief of the Mineral Development Management Division of the Ministry of Land and Resources, attended the opening ceremony.

　　The opening ceremony was hosted by Zhang Yongtao, Vice President and Secretary-General of the China Gold Association.

　　This conference, in light of the Chinese gold industry’s characteristics spanning the entire industrial chain and taking into account the current global trends facing the gold industry, will focus on three main components—high-level forums, industry exhibitions, and special events—covering areas such as resource exploration and development, technological innovation, safety and environmental protection, technical equipment, and the gold market. 26 The forum will be held in a forum format, providing participating delegates and exhibiting companies with ample opportunities for showcasing, exchanging ideas, engaging in discussions, and conducting negotiations.

　　Compared to the inaugural Golden Conference, this year’s conference features a higher proportion of representatives from commercial banks both in China and abroad. In addition, senior officials from mineral resource departments of major gold-producing and consuming countries around the world, embassies in China, industry associations and chambers of commerce, key leaders from gold administration agencies and associations across China’s provinces, autonomous regions, and municipalities, as well as local Party committees and government officials from major domestic gold-producing, processing, and refining regions, senior representatives from leading domestic and international gold production, processing, and retail enterprises, gold trading markets, and financial institutions have all participated in this conference. In total, there are— 1800 Others also attended this conference.

　　The renowned international investor Jim Rogers has also been invited to attend this conference, where he will deliver a keynote speech on “The Global Economic Outlook and the Gold Investment Market,” and subsequently participate in related sub-forums to engage in face-to-face exchanges with the delegates.

　　It is reported that this conference is the largest and most prestigious international event in China’s gold industry. It not only serves as an important platform for information dissemination, brand promotion, and the introduction of new products and technologies within the domestic and international gold industries, but also plays a crucial role in fostering deeper exchanges between Chinese and foreign gold sectors, sharing successful experiences, and jointly charting a path for future development.