The Imperial Color was yellow gold and the roofs of the Forbidden City were the same color. During imperial times, anyone wearing the imperial color, who did not belong to China’s ruling family, usually lost their heads.
Now, China is having a gold rush and holds more than a thousand tonnes of Gold as of June 2010, while gold demand from China’s middle class has grown 13 percent annually for the last five years.
As you can see from this Sky News video, Chinese are gobbling up gold as fast as they can regardless of the price. To them, it is an investment and the Central Bank of China is quietly buying gold to build reserves. China is now the world’s largest producer of gold.
Frank Homes writing for Wall Street Pit, Global Market Insight, says China can’t get enough gold and state-controlled China National Gold Group signed an agreement with Kensington Mine in Alaska to buy more.
In fact, Pacific Money.com says, “China’s society is changing beyond all recognition. At the heart of the most sweeping social and economic transformation the world has seen is the rise of a powerful new largely middle-class population. In 2000, only 4% of China’s urban households were middle class; by 2012, that number skyrocketed to more than 66%.
Discover China’s Heart and Soul
Lloyd Lofthouse is the award-winning author of My Splendid Concubine [3rd edition]. When you love a Chinese woman, you marry her family and culture too. This is the love story Sir Robert Hart did not want the world to discover.
His latest novel is the multiple-award winning Running with the Enemy.
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