Silk Road gold fund
Silk Road gold fund
Date: May 25, 2015
india.china Chabahar Port New Silk Road
China sets up largest gold sector fund for nations along ancient Silk Road
China has decided to set up a gold sector fund involving 65 countries along the ancient Silk Road.It has been set up in China’s northwest Xi’an city during ongoing forum on investment and trade. China is the world’s biggest gold producer. It has set up a gold sector fund involving countries along the ancient Silk Road which is expected to raise $16.1 billion.
The fund, led by Shanghai Gold Exchange (SGE), is expected to raise an estimated 100 billion yuan ($16.1 billion) in three phases. It should be noted that it is the largest fund set up by China in the gold sector. Around 60 countries which fall along the routes of 21st-Century Maritime Silk Road (MSR) and Silk Road Economic Belt have invested in the fund. This fund will facilitate gold purchase for the central banks of member states to increase their holdings of the precious metal.
Maritime Silk Road: visit http://prepareias.in/current_affair/9/2/2015/china-launches-maiden-maritime-silk-road-cruise-liner for this.
India & Silk Road Initiative:
From a historical point of view India is the converging point of the Maritime Silk Road and the Silk Road on land.On that basis, the Chinese government believes inevitably that naturally India is one of the important partners to build one belt and one road. India also benefits from at least reasonable ties with most stakeholders in the New Silk Road, including Iran, where India has invested heavily in the Chabahar Port. But India must also make serious efforts to strengthen its links with Southeast Asia, and for this it must develop stronger ties with Bangladesh. India will also need to work towards a manageable relationship with Pakistan, which would not only facilitate pipeline projects like TAPI, but also enable access to Afghanistan and Central Asia.