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Message: The story that doesn't get mentioned - China and Gold
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The story that doesn't get mentioned - China and Gold

posted on Mar 10, 2010 12:51PM

A senior official from the People's Bank of China (PBoC) suggested, "China should formulate a long-term plan and constantly and secretly increase its gold holdings, claiming that at present the percentage of gold in China's total reserve was too low ... PBoC should try to buy as much gold as possible from China's annual gold output of almost 300 tons, while the gold needed by industries and residents could be imported."

http://www.atimes.com/atimes/China_Business/LC11Cb01.html

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