Switzerland’s is the world’s most important trading place for gold; it processes two-thirds of the precious metal. In the last decade, gold exports to China increased dramatically and reached CHF 17.3 billion in 2018, which is 40 percent more than in 2017. Exports to China from the whole Swiss industry, in comparison, amounted to (only) CHF 12.2 billion.
Lately, Chinese customers increasingly demanded 1 kilo gold bars, which are a common Swiss product. These types of gold bars are mostly bought by savers, institutional shareholders or gold funds. It seems that Chinese people buy more and more gold due to increased concerns of an economic crisis. Another reason why China imported more gold last year though was that the country’s production decreased in the first month of 2018 and had to be covered by importing from foreign countries.
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