Gold Fund To Serve The New Strategy Of The Silk Road, Lead The New Gold Development
Not surprisingly there is little official documentation on the recently launched Silk Road Gold Fund. However, the translation below (original article published on ifeng) provides an intriguing insight at what this Fund is about. On May 22 Chinese financial policy makers from the PBOC, Chinese gold industry executives from commercial banks, mining companies, the Shanghai Gold Exchange and the China Gold Association together with representatives of the Western gold industry discussed gold’s future role in finance and how it will serve the New Silk Road Initiative.
Representatives from gold and financial institutions talked freely about bringing gold’s superiority into full play, seizing the historic and strategic opportunity of the “One Belt And One Road”…
The holding of the conference enhanced the communication and cooperation between the western gold industry and countries along the line of the “One Belt And One Road”, clarified the development direction of the gold industry under the economic background of the new normal … and unlocked a new chapter of the gold industry development.
Largest Domestic Special Fund of Silk Road Positioned in Xi’an For Assisting “One Belt And One Road”
May 25, 2015, 08:34
Source: ifeng Shaanxi
In the afternoon of May 22, the “One Belt And One Road” Conference of Promoting Gold Industry Development & Launching Ceremony of Silk Road Gold Fund hosted by Shanghai Gold Exchange and Shaanxi Provincial Government and co-hosted by Shaanxi Gold Group Incorporation Co., Ltd. was held grandly in Xi’an. As an important part of the Investment & Trade Forum for Cooperation between East & West China and the Silk Road International Expo agenda, the conference officially initiated the Silk Road Gold Fund with the subject of “Serve the New Strategy of the Silk Road, Lead the New Development of the Gold”; discussed the innovative thinking and specific measures on grasping the great development opportunities of “One Belt And One Road” and enhancing the synergetic development with the gold industry of the countries and regions along the line of “One Belt And One Road” under the new normal of the economy, and initiated the new era of the gold industry development.
Wei Minzhou, Standing Committee member of Shaanxi Province and municipal party secretary of Xi’an, attended the conference and gave a speech; deputy head of the financial market department of People’s Bank of China Zou Lan gave a speech about the consistent support on the sustainable and healthy development of China’s gold market; vice president of the Shanghai Gold Exchange Song Yuqin made a keynote speech that profoundly analyzed the development direction of China’s gold market and the policies on the gold industry; Sun Feng, chairman of the Shaanxi Gold Group, addressed the development report of the Shaanxi Gold Group; vice president of precious metal department of Industrial and Commercial Bank of China Qiu Yi gave his report on how to adapt to the new normal and how to develop new business. Chairman of Shaanxi Non-ferrous Metal Holding Group Co., Ltd Huang Xiaoping, vice chairman of China Gold Association Cui Jianguo, president of Industrial and Commercial Bank of China Shaanxi Branch Shang Jun, president of Bank of China Shaanxi Branch Li Ruiqiang, Industrial Bank Co., Ltd. Xi’an Branch Guo Qiujun and president of Industrial and Commercial Bank of China Sinkiang Branch Sun Jianyong gave their speech successively; Chen Yumin, general manager of the Shandong Gold Group, introduced the basic information of the Silk Road Gold Fund. Representatives from gold and financial institutions talked freely about bringing gold’s superiority into full play, seizing the historic and strategic opportunity of the “One Belt And One Road”, strengthening the bank-enterprise cooperation and financial-industrial combination, and leading the transformation and upgrading of the gold industry under the economic background of the new normal.
During the conference, vice governor of Shaanxi Provincial Government Wang Lixia and vice president of the Shanghai Gold Exchange Song Yuqin signed the agreement of comprehensively enhancing the strategic cooperation of the gold industry, which indicated promoting the Shaanxi gold industry to be superior and strong by establishing the fixed cooperative mechanism, setting up gold trading center, etc. Shaanxi Gold Group signed the comprehensive strategic cooperation agreement with 8 banks as Shaanxi Branch of ICBC, Sinkiang Branch of ICBC, Shaanxi Branch of CCB, Shaanxi Branch of Bank of China, Shaanxi Branch of Bank of Communications, Xi’an Branch of Industrial Bank Co., Ltd., Bank of Xi’an and Shaanxi Rural Credit Cooperative Union.
As an important agenda of this conference, Shandong Gold Financial Holding Capital Management Co., Ltd., Shaanxi Gold Group Incorporation Co., Ltd., China Industrial Asset Management Limited, China Industrial Wealth Asset Management Limited, Western Capital Investment Co., Ltd. and Shenzhen Gold Information Group Co., Ltd. signed the Sponsorship Agreement of the Xi’an Silk Road Gold Fund Management Co., Ltd. The guests activated the specially designed trigger and initiated the Silk Road Gold Fund in the form of turning stone into gold by touching. The Silk Road Gold Fund, with the Shanghai Gold Exchange as the leading initiator and the win-win cooperation of the Shandong Gold Group with the strongest comprehensive strength in domestic gold industry and the Shaanxi Gold Group with regional advantage, attracted large financial institution to work together on its establishment. “The Silk Road Gold Fund” (hereinafter short as “Fund”) will raise and manage one mother Fund and several sub-Funds, including a Gold ETF Fund, Gold Resource Merger and acquisition Fund, Gold Investment Fund, etc. The Fund will be issued in 3 phases with the first phase as 5 billion yuan, second phase as 30 billion and estimated gross as 100 billion, and it will become the largest gold fund in the domestic gold industry.
The holding of the conference enhanced the communication and cooperation between the western gold industry and countries along the line of the “One Belt And One Road”, clarified the development direction of the gold industry under the economic background of the new normal, and facilitated the western gold industry and gold market to grasp the opportunity under the motivation of the grand pattern of “One Belt And One Road”, it added new vitality and injected new energy to the prosperity of the development of the gold industry and gold market of China, and unlocked a new chapter of the gold industry development.
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