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CN Gold Association: CN Gold Industry Chain Is Intact, With Sufficient Resilience Against External Risks
2026-08-20 16:10:36 The China Gold Association issued a statement saying that the US Department of Homeland Security recently added certain Chinese domestic gold enterprises to the so-called Uyghur Forced Labor Prevention Act (UFLPA) entity list, prohibiting goods produced by the companies from entering the US. The London Bullion Market Association (LBMA) subsequently suspended the relevant companies' good delivery qualifications. The Association vigorously opposes the related measures, saying they lack factual basis, violate market-oriented principles and disrupt the stability of the global gold industry chain. The Association stated that the so-called "forced labor" in Xinjiang is entirely a false claim. China's gold industry strictly complies with laws and regulations, legally protects the lawful rights and interests of employees, and maintains compliance and transparency throughout the mining development process, with no basis for the related allegations. The US restrictions based on presumed guilt are essentially the politicization of human rights issues and the implementation of trade protectionism. The LBMA good delivery mechanism is an important foundation for global gold circulation. Accepting false information and suspending companies' qualifications without conducting sufficient fact-finding investigations not only harms the legitimate rights and interests of Chinese gold enterprises, but is also detrimental to the stable operation of the global gold market. China's gold industry chain is complete with sufficient resilience to withstand external risks. The China Gold Association will unite industry forces, coordinate rights protection responses, and promptly report developments to relevant authorities. ~ AASTOCKS Financial News Website: www.aastocks.com | |