China Information

Wednesday, January 10, 2007

China Gold Association:Foreign enterprises are encouraged to participate in the restructuring of state-owned gold enterprises

The gold business in China is experiencing its golden period of development, and China has become the world's major manufacturer and consumer of gold. However,it is also time for gold enterprises to adjust their structure and to increase competitiveness. In a special review with the overseas edition of People's Daily,Cheng Fumin, President of China Gold Association, said that investment in the gold industry must be raised through multiple channels and in diversified forms in the market, and foreign capital, technology and management expertise should be introduced to accelerate enterprise reorganization.According to Cheng Fumin, as a result of enterprise alliance, merger, assets restructuring and share system reform, many large gold company groups have risen quickly, and a gold industrial structure dominated by these large gold enterprises has taken shape. China’s gold industry welcomes and encourages foreign businesses to participate in the restructuring of China's state-owned gold enterprises, and sincerely hopes to step up the restructure of China's gold enterprises by introducing foreign capital, advanced technology and management expertise.

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