Gold jewelry demand cooled in China in 2014, in sharp contrast to frenzied buying in 2013, plunging 33 percent year-on-year to 624 metric tons, according to data published by the World Gold Council.
India displaced China as the largest gold consumer in 2014 with demand for gold jewelry and investment gold exceeding 843 tons, compared with 814 tons in China.
Global gold demand fell by 4 percent last year to 3,924 tons as consumers bought less jewelry, coins and bars compared with record levels in 2013, the gold council said.
Suifenhe airport to boost foreign trade
China plans to build a civilian airport in the northeastern border city of Suifenhe, Heilongjiang province, the country's largest contributor to trade with Russia. According to the feasibility plan, which was approved by the central government, the project includes a 2,500 meter runway and a 4,500 square meter terminal. The domestic airport is designed to handle 450,000 passengers and 3,600 tons of cargo by 2025, according to the Suifenhe municipal government. It will cost about 944 million yuan ($153 million).Â
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Gold jewelry demand cooled in China in 2014, in sharp contrast to frenzied buying in 2013, plunging 33 percent year-on-year to 624 metric tons, according to data published by the World Gold Council.
