China – Ready To Deploy Its Financial Warchest


BEIJING — China, the world’s largest gold producer, will support overseas investment plans by “large-scale” bullion companies by backing them financially, the People’s Bank of China said.

China “will place heavy emphasis on supporting large-scale gold producers in their development and overseas expansion plans,” the central bank said in the statement.

Chinese companies spent more than $30 billion last year buying mining assets and oil deposits to help secure raw material supplies to feed the nation’s growing economy.

Bloomberg

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