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China Loves West’s 99 Fine

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According to Bloomberg, whose calculations were based on Hong Kong customs data, net gold imports into China more than doubled in the first half of 2013 to 493 metric tons, up from roughly 239 tons over the same period in 2012.

The China Gold Association said gold consumption in China jumped 54 percent to 706.36 metric tons in the first six months of 2013.

Bloomberg reported takeovers and asset purchases by China’s gold mining companies reached a record $2.24 billion this year, up considerably from 2012’s record of $1.96 billion worth of M&A activity.

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