Thank u Retro for your comments. Since you call it a big mess, how much it can affect foreign investments particularly our own FMNJ. Anything heard from the horses mouth? How your friends in FMNJ are taking this development?
China's wealthiest investors set for gold spree - Friday, December 14, 2007
This article from Reuters is quite interesting, but attracted almost no attention in the broader press.
China's wealthiest investors are on the brink of ploughing as much as $68 billion into gold markets as they take profits from roaring share prices and steer clear of property, a top fund manager and bullion bull says. Wang Weilie, a pale, bespectacled 40-something who manages over 1 billion yuan ($135 million) on the Shanghai Gold Exchange on behalf of himself and clients, says the so-called "Zhejiang clique" are ready to pounce after Beijing opens up spot market bullion trading and a futures contract launches early next year.
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