Gold industry is one of the a few enclosed industries in China that still carry out instructed plan. Joining WTO is timing up, if we still keep it as it was, we will be washed out. While catching the opportunity will ...Gold industry is one of the a few enclosed industries in China that still carry out instructed plan. Joining WTO is timing up, if we still keep it as it was, we will be washed out. While catching the opportunity will make us stay in a invincible position. Firstly, to consider the opening up of the gold industry from the principle of "Market Access", it is beneficial to introduction of foreign capital, intelligence, technology and man agement, and it is helpful for our gold industry to catch up with the world advanced level, and further to improve international competitive capability. To look at the development of the gold industry from the view of "National Treatment", facing strong challenges from the interna tional market, the stated - owned gold enterprises should be reorgnised into several public list ed companies with capacities over 10 ton/y, to form the "locomotive" of gold industry, just like the situations in textile industry and ed industry, Looking at the reform of gold trade from the view of "Trade Barrier", it is pressingly important to establish gold market, At the moment to enter WTO, setting up the gold market is urgent and complicated as well. There fore. it must be done concretely and gradually, following the stop of legal person first, then common people; spot deal first, then forward trade; and domestic first, then abroad. To view the policy protection referring the,"Exception Clause", as a developing industry, our gold industry should make fall use of the exception terms of WTO, to obtain favourable condi tions for intertional competition. However, we can hot relay on such favourable terms for ever. while we must hurry from now to do our system and market reforms of the gold indus try according to the general principles of free trade.展开更多
俗话说,闪光的不一定都是金子,但金制的所有东西都令人耳目炫耀。由于历史原因,在任何时代、任何文明、任何文化中,黄金都以其独特的魅力展现光芒。从史前至今,很多民族都用这黄色的金属作为装饰物,但没有一个民族像印度那样对黄金如此...俗话说,闪光的不一定都是金子,但金制的所有东西都令人耳目炫耀。由于历史原因,在任何时代、任何文明、任何文化中,黄金都以其独特的魅力展现光芒。从史前至今,很多民族都用这黄色的金属作为装饰物,但没有一个民族像印度那样对黄金如此的渴望,以致这种渴望转化成为一种内心的欲望。因此,这片土地被称为黄金雀(Sone ki Chidiya)。黄金在印度的这种高深莫测、迷惑人心的影响至今未得到完美的解释。展开更多
Based on a time-varying parameter structural vector autoregression with stochastic volatility(TVP-SVAR-SV)model,the time-varying effects and country differences of economic policy uncertainty(EPU)on gold prices from A...Based on a time-varying parameter structural vector autoregression with stochastic volatility(TVP-SVAR-SV)model,the time-varying effects and country differences of economic policy uncertainty(EPU)on gold prices from August 2006 to December 2017 were examined.The results show that the effects of global economic policy uncertainty(GEPU)shock on gold prices change over time.The changes were positive during 2006-2008 and 2013-2017,while the impacts were negative during 2009-2012,implying that the efficiency of gold as a safe haven is not stable and depends on economic conditions.There are significant country differences regarding the impact of EPU on the price of gold,particularly during the international financial crisis,European debt crisis and Trump election.During the international financial crisis,EPU exerts a positive impact on gold prices in most countries.During the European debt crisis,the impact of EPU on gold prices is mainly negative in the examined countries.While during the Trump election,the impact displays positive and negative alternating in most countries.展开更多
文摘Gold industry is one of the a few enclosed industries in China that still carry out instructed plan. Joining WTO is timing up, if we still keep it as it was, we will be washed out. While catching the opportunity will make us stay in a invincible position. Firstly, to consider the opening up of the gold industry from the principle of "Market Access", it is beneficial to introduction of foreign capital, intelligence, technology and man agement, and it is helpful for our gold industry to catch up with the world advanced level, and further to improve international competitive capability. To look at the development of the gold industry from the view of "National Treatment", facing strong challenges from the interna tional market, the stated - owned gold enterprises should be reorgnised into several public list ed companies with capacities over 10 ton/y, to form the "locomotive" of gold industry, just like the situations in textile industry and ed industry, Looking at the reform of gold trade from the view of "Trade Barrier", it is pressingly important to establish gold market, At the moment to enter WTO, setting up the gold market is urgent and complicated as well. There fore. it must be done concretely and gradually, following the stop of legal person first, then common people; spot deal first, then forward trade; and domestic first, then abroad. To view the policy protection referring the,"Exception Clause", as a developing industry, our gold industry should make fall use of the exception terms of WTO, to obtain favourable condi tions for intertional competition. However, we can hot relay on such favourable terms for ever. while we must hurry from now to do our system and market reforms of the gold indus try according to the general principles of free trade.
文摘俗话说,闪光的不一定都是金子,但金制的所有东西都令人耳目炫耀。由于历史原因,在任何时代、任何文明、任何文化中,黄金都以其独特的魅力展现光芒。从史前至今,很多民族都用这黄色的金属作为装饰物,但没有一个民族像印度那样对黄金如此的渴望,以致这种渴望转化成为一种内心的欲望。因此,这片土地被称为黄金雀(Sone ki Chidiya)。黄金在印度的这种高深莫测、迷惑人心的影响至今未得到完美的解释。
基金Projects(71633006,71874210,71874207,71573282) supported by the National Natural Science Foundation of China
文摘Based on a time-varying parameter structural vector autoregression with stochastic volatility(TVP-SVAR-SV)model,the time-varying effects and country differences of economic policy uncertainty(EPU)on gold prices from August 2006 to December 2017 were examined.The results show that the effects of global economic policy uncertainty(GEPU)shock on gold prices change over time.The changes were positive during 2006-2008 and 2013-2017,while the impacts were negative during 2009-2012,implying that the efficiency of gold as a safe haven is not stable and depends on economic conditions.There are significant country differences regarding the impact of EPU on the price of gold,particularly during the international financial crisis,European debt crisis and Trump election.During the international financial crisis,EPU exerts a positive impact on gold prices in most countries.During the European debt crisis,the impact of EPU on gold prices is mainly negative in the examined countries.While during the Trump election,the impact displays positive and negative alternating in most countries.
