Which industry is it? “ The Belt and Road ” Leading industries? Many people’s first reaction might be transportation, energy, power grids, telecommunications, and the like—but few would think of gold. In the seventh issue of “State-owned Assets Report,” Song Xin, Party Secretary and General Manager of China Gold Group Corporation and President of the China Gold Association, has contributed an article that provides readers with a detailed explanation of the advantages of prioritizing the gold industry, as well as the significance of designating the gold industry as a strategic sector and exploring innovative models for its development. The original title of this article is “Striving to Become a Strategic Industry.” At “ The Belt and Road ” Pioneer and lead the way ” 》。

　　Gold is a special commodity that possesses both commodity and monetary attributes. It serves as a crucial global strategic asset and forms the cornerstone of each country’s financial reserve system, playing an irreplaceable role in safeguarding national economic and financial security. The gold industry is a strategically important sector for the nation. Developing gold production, perfecting the gold market, and promoting gold consumption—these are all essential steps toward achieving... “ Store gold among the people. ” This will provide a solid guarantee for our country’s financial security and economic stability, enhance the gold content and credibility of the RMB, and offer crucial support for the internationalization of the RMB.

　　In recent years, China’s gold industry has achieved leapfrog development across the entire industrial chain, encompassing exploration, mining, beneficiation, processing, consumption, and investment trading. 2014 This year, China's gold production reached 451.80 tonnes, gold consumption reached 886.09 China is the world’s largest producer, consumer, and processor of gold. At the same time, shifts in the global competitive landscape, as well as dramatic changes in the domestic market environment, business models, and consumer trends, have all dealt a significant blow to the traditional gold industry.

　　 “ The Belt and Road ” Countries along the Belt and Road are rich in gold mineral resources, have strong consumer demand, and witness active investment and trading activities, thus occupying an important share and position in the global gold industry value chain. China’s strengths—such as advanced technology, sophisticated equipment, substantial financial resources, and highly skilled personnel—in the development of the gold industry complement the abundant gold resources and vast market prospects of countries along the Belt and Road, creating significant potential and room for mutual cooperation. “ The Belt and Road ” The introduction of the strategic initiative has brought unprecedented opportunities for the development of China’s gold industry and will undoubtedly play a significant role in addressing the long-standing bottlenecks in the industry and facilitating its transformation and upgrading.

　　 “ The Belt and Road ” Holding vast gold resources and markets

　　 “ The Belt and Road ” The total gold reserves of the countries along the route are approximately 21000 tons, accounting for the global total reserves of 41.5% ；2014 The total gold production of countries along the route in that year was 1116 tons, accounting for the global total production of 35.6% ; Global 20 Large gold mine has 6 Located in this region are the Muruntau gold mine in Uzbekistan and the Grasberg gold mine in Indonesia, which... 61 ton and 35.2 Its annual production ranks among the top two gold mines globally.

　　Meanwhile, consumption of gold jewelry and demand for physical gold investments remain robust in this region. China and India are the world’s two largest gold-consuming countries, while Southeast Asia, West Asia, Central Asia, North Africa, and Central and Eastern Europe also serve as important demand drivers in the global gold market. 2014 Year, jewelry consumption in countries along the route reached 2025 tons, accounting for the global... 82.4% ; Demand for physical gold investment is 778 tons, accounting for the global... 77%。 “ The Belt and Road ” Its implementation will bring comprehensive development opportunities to China's gold industry.

　　Statistical data shows that, 2014 China's ranking among the top producers of refined gold this year 10 The provinces (or autonomous regions) are Shandong, Henan, Jiangxi, Fujian, Hunan, Inner Mongolia, Yunnan, Gansu, Xinjiang, and Anhui. These provinces (or autonomous regions) or parts thereof... “ Regional segment ” These regions have been incorporated into the scope of implementation for the Silk Road Economic Belt or the Maritime Silk Road, and most of China's major gold enterprises—such as China Gold, Shandong Gold, Zijin Mining, Shandong Zhaojin, Hunan Gold, Yunnan Gold, and Lingbao Gold—have deeply rooted themselves in these areas.

　　Most importantly, domestic gold enterprises can take advantage of the nation’s accelerated drive toward opening up to the outside world and actively explore and acquire overseas mineral and gold resources. 2008 Since the global financial crisis, China’s leading gold enterprises have established extensive contacts and collaborations with multinational giants such as Barrick Gold Corporation, an international gold producer, and Newmont Goldcorp of Australia. Despite the fact that Chinese enterprises... “ Go out. ” Facing severe challenges and risks, yet relying on... “ The Belt and Road ” The strategy—encompassing regions such as Southeast Asia, the CIS, and Africa, as well as countries including Myanmar, Vietnam, Russia, Tajikistan, Peru, Mongolia, and the Philippines—holds immense gold resources and gold markets, which will open up vast opportunities for the development of China’s gold enterprises.

　　Meanwhile, the accelerated pace of RMB internationalization will also create a larger stage for gold to better play its financial role. Since... 2008 Since then, the People's Bank of China has successively collaborated with... 25 The central banks and monetary authorities of a country (region) have signed a currency swap agreement, involving an amount of... 2.7 Trillions of RMB. The internationalization of the RMB not only serves as a crucial safeguard for releasing foreign exchange reserves and facilitating capital outflows, but also reflects strategic considerations aimed at de-dollarizing and enhancing the RMB’s global standing. It is also a key factor for China’s gold enterprises. “ Go out. ” a special pass. As the renminbi accelerates its internationalization, gold will undoubtedly play an indispensable and crucial role.

　　First-mover advantage in the gold industry

　　In the country “ The Belt and Road ” Under the strategic framework, gold will be designated as a leading industry, and priority will be given to deepening cooperation between China and countries along the Belt and Road in gold exploration, mining, processing, consumption, as well as gold investment and trading. This initiative is of great significance for promoting the healthy development of China’s gold industry, strengthening the nation’s control over gold resources, and solidifying the country’s financial security defenses.

　　The gold industry does not place high demands on infrastructure, making it well-suited for early-stage development during strategic implementation. Compared with other mining sectors such as ferrous metals, nonferrous metals, coal, and petroleum, gold resource development has relatively lower requirements for local infrastructure construction conditions—particularly in... “ The Belt and Road ” In the early stages of strategic implementation, even before power, railways, ports, and water supply were officially operational, it was possible to carry out infrastructure development and production by relying on diesel generators, self-repairing mine roads, and simple water-source projects.

　　Gold resource development requires low investment and delivers quick results, making it highly exemplary. Compared with other mining sectors, gold resource development stands out for its low investment, short project cycles, rapid returns, and substantial fiscal contributions. Gold products have high unit value yet small physical volume, resulting in lower energy, water, and material consumption per unit of output, as well as reduced emissions of the three wastes. Moreover, most gold mining areas are located in remote and underdeveloped regions of a country, where they significantly boost local fiscal revenues and stimulate employment—making them readily accepted by local communities. Such projects also serve as pioneering and demonstrative models, spurring cooperation in other fields. Several gold mines currently being developed by China in Central Asia have become pillar enterprises in their respective localities, providing crucial employment opportunities and serving as important sources of fiscal revenue, and thus enjoying strong support from local governments and residents.

　　China’s gold mining technology is advanced and boasts a clear comparative advantage. Compared with other mining sectors, China’s gold industry possesses a number of world-leading scientific and technological achievements with independent intellectual property rights, which can effectively address the challenges in developing gold resources that are difficult to mine and process. In particular, the bio-oxidation gold extraction technology developed by China Gold Group Corporation is at an internationally leading level in terms of microbial strains, temperature adaptation range, and tolerance to harmful elements. Currently, countries and regions such as Central Asia, Southeast Asia, Russia, and Mongolia hold substantial reserves of gold resources that are challenging to process; due to local technological limitations, these resources can only remain undeveloped. “ Dead mine ” China and foreign countries can fully leverage their respective advantages in resources, technology, funding, and talent to achieve collaborative development. For instance, in the Zeravshan project between China and Tajikistan, China drew on its expertise and technologies for developing difficult-to-process resources. Addressing issues such as high costs of conventional reagents and complex process flows, China developed a low-cost ammoniacal cyanide leaching process that has solved a challenge that developed mining nations in Europe and the U.S. have yet to overcome.

　　As part of the cultural and creative industries, developing the gold products sector helps to promote... “ Hearts and minds connected ”。 “ Hearts and minds connected ” Yes “ The Belt and Road ” The social foundation for strategic implementation. Gold artifacts, embodying history, tradition, fashion, and art all in one, serve as vital carriers of human cultural heritage and innovation. “ The Belt and Road ” The region is the world’s most important gold consumption market, and gold products are closely intertwined with people’s religion, daily life, and rituals. By taking the gold products industry as a key point of cooperation, we can achieve... “ The Belt and Road ” A crucial lever for fostering strategic connectivity with the hearts of people across nations and strengthening social foundations. By leveraging gold products as a cultural medium, we can use economic and trade cooperation to drive cultural exchanges, draw on the cultural treasures of countries along the route, and jointly achieve both inheritance and innovation—thereby effectively promoting... “ Hearts and minds connected ” Its implementation and realization.

　　Meanwhile, relying on “ The Belt and Road ” The strategy, while prioritizing the development of gold resources, also presents opportunities for the development of non-gold mineral deposits. “ Silk Road Economic Belt ” The region where we are located lies at the intersection of the Paleo-Asian Metallogenic Province and the Tethyan Metallogenic Province—a zone that is itself a vast metallogenic domain rich in non-energy mineral resources. It encompasses numerous distinct mineralization belts, including the Kunlun Mountain Belt, the Qilian Mountain Belt, and the Tian Shan Belt. For instance, China has already discovered a large copper deposit—exceeding 10 million tons—in Quilong, Tibet, and has identified promising exploration prospects in its surrounding areas. Moreover, the Gangdise porphyry copper belt, where this deposit is situated, could extend westward indefinitely. Experts believe that several more world-class copper deposits, each containing tens of millions of tons of copper, could very likely be found along this belt. Furthermore, this region holds great exploration potential for other mineral types, such as chromite, lead-zinc ores, and salt deposits. The mineral resource types and geological settings conducive to mineralization here are highly distinctive, endowing the area with enormous exploration potential. Strengthening exploration and development in this region will undoubtedly boost China’s supply of mineral resources and significantly alleviate the country’s mineral resource bottlenecks.

　　It is recommended that the gold industry be designated as a strategic industry.

　　The country should accelerate the top-level design of its gold strategy and integrate it into... “ The Belt and Road ” The overall framework, coupled with effective planning and policy support, can both enrich... “ The Belt and Road ” The essence of the strategy will further accelerate the development of China’s gold industry and provide stronger support for the implementation of the RMB internationalization strategy. Specific measures include:

　　The state should increase its support for the gold industry in implementation. “ The Belt and Road ” The level of support within the strategy. It is recommended that, from the perspective of the nation’s core strategy and with a focus on the internationalization of the RMB and enhancing the country’s control over gold, the gold industry be designated as a strategic industry and that corresponding policies be formulated. “ The Belt and Road ” Golden Industry Development Plan, formulated in alignment with the national... “ The Belt and Road ” A supportive policy framework for the gold industry, aligned with strategic objectives, will promote the healthy and sustainable development of the gold sector and enhance the nation’s control over gold resources.

　　Support gold enterprises in making good use of both domestic and international resources and markets. Upstream gold mining industry. “ Go global together ” Explore and develop gold resources overseas. Building on the already established domestic gold-development landscape dominated by large conglomerates, we encourage domestic enterprises to intensify their cooperation with countries along the Belt and Road that are rich in gold resources, thereby exploring and developing overseas gold assets. This will help create a new global framework for the allocation, development, and utilization of gold resources, extending the nation’s control over gold from within China to overseas markets. Based on the characteristics of gold-producing enterprises, we recommend that the state adopt the following measures: “ Borrow and repay with gold ” Support domestic gold enterprises by utilizing the country’s foreign exchange reserves on a zero-interest basis. “ Go out. ” Develop the gold resources along the Belt and Road countries.

　　Downstream gold and jewelry enterprises should make full use of... “ The Belt and Road ” The provided connectivity platform facilitates in-depth cooperation among domestic and international enterprises in areas such as gold processing and manufacturing, technological R&D, brand building, and marketing model innovation—particularly by focusing closely on... “ Smart manufacturing ”、 “ Internet +” By leveraging two major national strategic opportunities, we can achieve complementary advantages, build smooth and convenient trade channels, integrate market resources, and create a unified golden market spanning Europe, Asia, and Africa. This not only will help establish new growth engines but also drive the upgrading of China’s gold consumption and the transformation and upgrading of its related industries, paving the way for China’s gold and jewelry industry to... “ Made in China ” Toward “ Made in China ” Provide powerful动力.

　　Accelerate the development of the gold industry in China’s western region. The western region of China is an important component of the Silk Road Economic Belt. While this region boasts abundant gold resources and significant potential for the gold consumption market, its development efforts remain insufficient and lag behind those of the central and eastern regions. We should adopt concrete measures to promote balanced development among the eastern, central, and western regions and speed up progress. “ The Belt and Road ” Construction process. Establishing a focus on the western provinces. “ The Belt and Road ” The nation’s gold refining base, absorbing and utilizing. “ The Belt and Road ” The country will leverage the gold resources from radiation-producing countries in Asia, Africa, and Europe by acquiring raw gold materials, used jewelry, and electronic products from these nations for refining purposes. This initiative aims to boost domestic gold supply and strengthen the nation’s global control over gold resources. Additionally, a demonstration zone for the gold and jewelry creative industry will be established, creating an integrated ecosystem that encompasses design and R&D, processing and manufacturing, wholesale and retail, exhibition and trade fairs, and foreign trade. “ The Belt and Road ” A national-level innovation and upgrade platform for the gold and jewelry industry, open to countries along the route.

　　Actively explore and innovate new models of industry-finance integration to support the development of the gold industry. Gold possesses financial attributes, making it easy to value and securitize. Moreover, the gold industry is capital-intensive, providing ample opportunities for proactive exploration and practice in industry-finance integration. It is recommended that the state... “ Silk Road Fund ” Establish a sub-fund for the gold industry to provide targeted support for its development; coordinate the Asian Infrastructure Investment Bank and commercial banks to launch business initiatives tailored to the unique characteristics of the gold industry and imbued with distinctive golden features; promote the establishment of a special industrial fund for gold to bolster the growth of the gold sector; and support gold enterprises. A Equity financing, financing via the New Third Board, and financing in overseas capital markets.

　　Further enhance the functionality of China’s gold market. Building on the successful launch of the International Board at the Shanghai Gold Exchange, we will continue to promote the internationalization of China’s gold market, attracting more investors from countries along the Belt and Road to participate in the RMB-denominated gold market. This will facilitate the gradual establishment of internationally recognized RMB-based gold pricing mechanisms and delivery standards, continuously strengthening the cohesion and influence of the RMB gold market. In line with internationalization requirements, we will expand the range of tradable products and improve service levels, transforming China’s gold market into an international platform for gold investment and trading among countries along the Belt and Road. This will foster the integrated development of China’s gold market with global markets, bolster China’s voice and pricing power in the international gold market, and enable us to achieve... “ Westward shift of the Jin dynasty ” To “ Westward price shift to the east ” The transformation.

　　China Gold aims to become a large multinational corporation.

　　As the only central enterprise in China’s gold industry, China National Gold Corporation shoulders the historic responsibility of safeguarding national financial security and leading the industry’s scientific development. Currently, China National Gold’s business scope encompasses exploration and design, resource development, product manufacturing and trading, as well as general contracting for engineering projects, covering precious metals and non-ferrous metals such as gold, silver, copper, and molybdenum. Its main business segments are divided into seven major areas: Zhongjin Gold, Zhongjin International, Zhongjin Jewelry, Zhongjin Construction, Zhongjin Resources, Zhongjin Irradiation, and Zhongjin Trade, with additional operations in the media industry. Facing the nation... “ The Belt and Road ” Strategically, all business segments of China Gold will seize the historic opportunities, identify potential avenues for growth, seek to expand their operations, and accelerate their development pace.

　　It is recommended that the state further support the development of China Gold Group, enabling it to play a leading and guiding role in domestic resource integration and overseas resource development, and to actively support China Gold. “ Go out. ” Strengthen our ability to control and develop gold resources both domestically and internationally, actively participate in global competition, and build a world-class mining company.