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Monday, 19th April 2004 (4822 views)

Gold import tariffs are to be reduced in China in a move that could see the country's demand for the precious metal boosted even further.<BR/><BR/>It is hoped the new tariff will help attract foreign name-brand products to China, according to the secretary-general of the China Gold Association, Zhang Yongtao.<BR/><BR/>The country's consumption of the precious metal has continuously increased and reached 207 tonnes in 2003, according to Yahoo News.<BR/><BR/>At present the tariff on gold imports is at 38 per cent and an exact reduction has so far not been revealed.<BR/><BR/>Reportedly, China is now the fourth largest gold consuming country.

 

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