Relevant:
- Jan-Feb Mainland China Gold Imports Rise Sixfold Y-O-Y
- China Gold Imports From Hong Kong Still Near Highs, Despite Premiums
- Gold Imports to China From Hong Kong Climb on Physical Demand
- China's Gold Imports Seen Jumping 50% as Haven Demand Booms
- China's net gold imports from Hong Kong hit 9-month high in Nov | Reuters
2012-05-08 — bloomberg.com
Looks like China has just surpassed their own domestic production, which is why imports have suddenly gone from "zero to a lot". Most analysts watching closely believe China's government has been quietly continuing to accumulate large amounts of gold primarily off of domestic production -- but when that runs out, the additional consumption (in the form of imports) is impossible to completely hide.
Mainland China's gold imports from Hong Kong surged more than sixfold in the first quarter, adding to signs that the country may displace India as the world's largest consumer of the precious metal on an annual basis.
Imports from Hong Kong were 135,529 kilograms (135.53 metric tons) between January and March, from 19,729 kilograms in the year-earlier period, according to data from the Census and Statistics Department of the Hong Kong government. Shipments in March rose 59 percent from February, yesterday's data showed.
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