“Gold Responsibility & Paramount Mission” — Chinese Gold Industry’s Epidemic Prevention and Anti-Epidemic Social Responsibility Report released in Beijing

The Press Release of Chinese Gold Industry’s Epidemic Prevention and Anti-Epidemic Social Responsibility Report themed “Gold Responsibility & Paramount Mission”, co-organized by China Gold Association, Shanghai Gold Exchange, World Gold Council and Sina Finance, was held in Beijing on 6 November. This is an important social responsibility report on epidemic prevention and control from one single industry since the outbreak of the COVID-19 crisis, describing how those from China's gold industry have worked together to overcome the difficulties of the time: on the one hand, they have implemented precise measures to resume work and production, and on the other, they have strengthened protection of the health of employees. The report brings together social responsibility cases from more than 150 organizations and companies across upstream, midstream and downstream of the industry, spanning the entire industry chain of gold production, refining, trading, processing and retailing, and demonstrates the responsibility and commitment of the gold industry.

The sudden outbreak of the pandemic in 2020 have had an impact on the entire globe. Adhering to the principle of "putting the people and their lives front and center", the Chinese Government led the 1.4 billion Chinese people to have effectively contained the epidemic, steadily resumed production and returned to normal life, and won the battle to prevent and control the epidemic with significant strategic outcomes achieved. 
Since the resumption of work and production, WGC China communicated with China Gold Association and Shanghai Gold Exchange at the first time. In order to fully reflect the positive, decisive and effective action taken by the gold industry in the face of the epidemic, the three parties agreed to publish the "Chinese Gold Industry’s Epidemic Prevention and Anti-Epidemic Social Responsibility Report 2020", and soon received a positive response from all parties concerned.

It was pointed out in the report that all major gold companies were holding fast to the front line of epidemic prevention and control, carefully formulating and implementing anti-epidemic measures, actively making donations and providing medical supplies, and resuming production in a timely and regulatory manner. At the same time, the majority of private and small to medium-sized enterprises worked hard to overcome multiple difficulties such as the shrinking gold consumer market and the pressure on the capital chain and supply chain, donated funds and materials to help the front line, and innovated marketing models to improve services, stabilize production and protect jobs. Exchanges, banks and relevant market institutions also took swift action to implement reasonable epidemic prevention and control measures, carry out various forms of public welfare programs to support the anti-epidemic frontline, respond to emergencies actively and prudently, and ensure safe and smooth gold market trading activities. In addition, gold regulators and industry associations also played a leading role in mobilizing the whole industry to put in all-out efforts to contain the epidemic, promoting orderly resumption of work and production, and advocating gold enterprises to cooperate with each other to tide over the difficulties.

"Gold is widely recognized as a global strategic resource and the material basis of credit currency. The global future faces more risks and challenges than ever. As the last guard and a strategic reserve in times of emergency, gold's function of resisting risks and guaranteeing security is once again highlighted and has given the gold industry an important historical mission and realistic responsibility", said Lu Jin, President of China Gold Association.

"We are doing our best to prevent and control the epidemic, while actively resuming work and production. We continue to strengthen the construction of financial infrastructure, co-ordinate the implementation of emergency plans, timely take risk control measures, pay close attention to market fluctuations, properly resolve market risks, do our best to ensure that trading, clearing, delivery and other businesses are carried out in an orderly manner, and effectively and efficiently maintain the stable operation of the market", said Jiao Jinpu, Secretary of the Party Committee and Chairman of the Board of Directors of the Shanghai Gold Exchange (SGE).

"We are delighted that the Chinese Gold Industry’s Epidemic Prevention and Anti-Epidemic Social Responsibility Report has been quickly gaining attention and positive response in the Chinese gold industry. While the pandemic has brought difficulties, it has also pressed the shortcut key for transformation and upgrading of the gold industry. A digital, smart, green and ecological gold industry will become an inevitable trend for the future development", said David Tait, Chief Executive Officer of the World Gold Council.

Gold plays a unique role in the global economy, and also an irreplaceable part in ensuring the financial security of countries, communities and families, as well as in promoting the advancement of medical, environmental and communication technologies. And the majority of practitioners in the gold industry also live up to the expectations of the public by working together and contributing to winning the battle against the epidemic and ensuring respectively stability and security in six areas.

At present, the pandemic is still raging around the world, while China has entered the post-epidemic period and its economy is recovering strongly. The release of this report at this time is not only a summary of the achievements made by China's gold industry in the fight against the epidemic, but also a good reference for the rest of the world in pandemic prevention and control.

We are witnessing major changes unfolding in our world, something unseen in a century. The international environment is becoming more complex with significantly increased uncertainties. Nevertheless, it can be expected that gold will play an important role in reconstructing the global governance pattern, and promoting the global economy to get rid of the impact of the pandemic and move towards recovery.
 

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Hong ZHANG   World Gold Council
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Angela  ZHU    Edelman
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