The assertion that China encourages its citizens to own gold is incorrect, and I'm not really surprised that someone from the Perth Mint would say otherwise, it's his job to sell gold, not to tell the truth.
The real fact is that the Chinese government , in it's own official mouthpieces criticised the segment of the population that was hoarding gold because they had no idea what they were doing, similar behaviour that has led to the recent rout in the Chinese stock market. Gold hoarders in China have lost fortunes, a hard lesson in economics.
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On Sunday, Shanghai-based Liberation Daily, a newspaper owned by the Shanghai Communist Party, not only joined other news outlets in comparing the gold-shopping habits of aunties to grocery shopping but also suggested: "Their knowledge of banking and finance is close to zero, so their investments change with the winds. They're also based on feelings, as well as the advice of close friends."
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