China's official digital currency
since there is no specific financial regulation to regulate digital gold money suppliers, they operate in a self-regulation way. Digital gold money suppliers are not banks, so banking regulations are not applicable.
1. Legitimacy
the domestic futures market countries set up financial derivatives trading venues, which are composed of four exchanges, namely, China Gold Exchange, Shanghai Futures Exchange, big business exchange and Zheng business exchange, which are supervised and managed by China Securities Regulatory Commission, futures monitoring center and futures association according to law
except bitcoin, which has a perfect management mechanism, the management of other digital currencies is chaotic and belongs to non-governmental organizations. Governments have never recognized the legality of digital currencies. Credit is completely managed by the self-discipline of issuers and participants, which poses great risks
Domestic futures: 9:00-10:15 a.m., 10:30-11:30 p.m. and 13:30-15:00 p.m. from Monday to Friday (except holidays)digital currency: it can be traded 24 hours a day, and the trading time is in line with the international market
3. Proct selection
domestic futures: at present, there are dozens of futures varieties, and each variety has at least four months of contract, with standardized management and large trading volume, so it is difficult for funds to control the market
digital currency: the management is not standardized. Although many non-governmental organizations or indivials have set up a lot of digital currencies, the information is limited, and it is difficult to understand the situation of a certain digital currency. Some digital currencies have hierarchical relationship between the upper and lower families. Investing in a certain digital currency is a matter of luck, without any data as a reference
4, two-way trading
domestic futures, with its own leverage, can be two-way trading, long and short can be, t + 0 trading, after the profit can appear
digital currency: long by one side, and the so-called depletion of power resources to mine, the relationship between the superior and the subordinate profits
It can not be said to be a fraud, but there are certain risks, because digital gold currency is a form of physical currency, and its deposits are measured in gold rather than legal currency. Therefore, the purchasing power fluctuation of digital gold currency is related to the gold price. If the price of gold goes up, it becomes more valuable. If the price of gold goes down, it loses value
since there is no specific financial regulation to regulate digital gold money suppliers, they operate in a self-regulation way. Digital gold money suppliers are not banks, so banking regulations are not applicable
extended data
to explore the connotation of digital currency, we must clarify some concepts of model lake. For example, is it legal digital currency dominated by the central bank or illegal private fixed digital currency; Encryption of digital currency or electronic currency; Is it "selling dog meat with sheep's head"; "Bad money"
new technology does make the conceptual boundary of money more blurred. Theoretically speaking, the new monetary economics points out the possibility of the disappearance of money, that is, legal paper money is no longer the only medium of transaction, and is eventually replaced by financial assets issued by the private sector that generate monetary income
in reality, although the status of fiat money is still unshakable, there have been various local scenes of private money in history, such as the universal warra system in Germany in the 1920s. Now the digital currency with the characteristics of decentralization makes the challenge of private currency increasingly prominent< br />
1. Woyun mountain is 35 kilometers away from Kunming. It is located in Gulu Yi and Bai Township, Xishan District, Kunming, with an altitude of 2591 meters. It is a unique tourist attraction in the suburbs of Kunming with the largest forest area, the best natural ecology preservation and the richest vegetation community. From the urban area through the black forest shop through the bamboo temple, country park can reach. The pavement is asphalt. The temperature in the scenic spot is slightly lower than that in the urban area. It is full of ups and downs, lush trees, gurgling streams and springs, flowers all over the ground, birds in the forest and fruits on the trees. If you join in the embrace of nature, you will forget the noise of the city and bring you a pleasant feeling. Girls and young men of Yi, Bai and Miao Nationalities living around woyun mountain tourist area will also warmly invite you to participate in traditional ethnic activities such as "three stamping feet" and "Axi tiaoyue", which will add some festive excitement to you< The Qipan mountain in Xishan District is not only beautiful in scenery but also fabulous in legend. It is famous for its high mountains, and it enjoys the victory of nature and humanity. Besides the stone house of huahonglongcong, the top platform of 2480 meters, and the vast forest sea, Tuanjie Township also spent 64 million yuan to build roads, build pavilions and plant trees here Jiulongchi, yangmeiling, HUAHONGDONG and gaoshanhu entertainment area are five scenic spots, which are 39 scenic spots. They are a new tourism area integrating ecological, human geography and mountaineering folk activities. When you come to Qipanshan National Forest Park, you can not only enjoy the beautiful natural scenery and magical ethnic customs, but also participate in the colorful tourism activities such as water recreation, mountain vacation and forest hunting, making your leisure tourism more distinctive
3. Horse racing
there is a racecourse less than 10 kilometers away from the center of Kunming city. You can feel the taste of wildness and the joy of "participation". There are not only the spring scenery with endless flowers, but also exciting horse racing activities, unique horse culture exhibition hall, unique fishing garden, comfortable water curtain cave, and desirable hunting ground Shooting range... In addition, you can have a panoramic view of Dianchi Lake and Kunming in the forest park, and enjoy the real beauty of spring city. In addition to watching the horse racing performance, tourists can also practice riding accompanied by professional riders, or participate in tea picking, shooting, fishing, singing, tug of war, drinking beer and other competitions organized in the park<
4. Grass skiing
18 kilometers west of heilinpu is Huanxi grass skiing field in Tuanjie Township. Kunming is like spring all the year round. Kunming people have no chance to ski, but they can come here to ski and feel their speed and heartbeat. When you skate past the 1900 meter long track, listen to the wind blowing through your ears and watch things move behind you. This kind of self challenging movement will surely make you experience the feeling of conquering the "Guinness world record"
5. Baoziqing is beautiful and quiet
if you want to find a secluded place to relieve your boredom, listen to the sounds of nature and put yourself into the embrace of nature, we can take you to a really quiet place - baoziqing. With its quiet and beautiful aura, baoziqing has nurtured a unique pure land, where there are well preserved plant communities, towering ancient trees, a variety of wild animals, beautiful and quiet rural scenery and strong folk customs. There is a lake hidden in the mountain. The depth of the lake is unpredictable. You can enjoy the folk song on the bamboo raft
6. The original Grand Canyon
more than 10 miles west of chejiabi to the side of Mingming reservoir, "guihuangge" is a good place to explore. When you step into the Grand Canyon, you can see all the wonderful trees, rocks and rocks in front of you. After the swing, you can see a pool of clear water. The local people call it "heimugao", which means mother's lake. Along the Bank of the lake, you can take a raft up about 2000 meters to enter Qingquan gorge. Then you can climb the mountain and cross the raft bridge, which is another world. If you go further, you will arrive at the original "Miao village". You will be warmly treated
7. YuLongWan is the only tourist resort in China that features Southeast Asian culture and integrates cultural exhibition projects with film and television shooting, conference, leisure and other functions. The scenic area is surrounded by mountains and water, with luxuriant vegetation and towering cliffs. In addition, there are Thai Temple, golden pagoda, Myanmar commercial street, Lao dwellings, Vietnamese teahouses, Jinma Biji city which reflects the old appearance of Kunming, and five southern silk cities in Tang, song, yuan, Ming and Qing Dynasties. Here you can enter the "Lilliputian kingdom" and visit the "Mysterious Valley". You can also cross the iron bridge and the ropeway. In addition, you will be amazed by the magnificent waterfall and the wonderful underwater forest; Colorful Southeast Asian songs and dances, traditional folk performances and major festivals and celebrations will make you forget to return
8. Qinglong gorge
from the famous Anning "No.1 soup in the world" to the west of Tanglangchuan for more than 20 kilometers, lies a mysterious pure land Qinglong gorge. In the daytime, you can not only explore the seclusion in the gorge, watch the water wheel and sing ancient songs, but also take a raft to experience the tension and excitement of "the first drift in Central Yunnan". At night, I stay in a Dai style building and hear the frogs in the mountains. This is really a return to nature< There are abundant vegetation and special geographical environment in Fengshan forest bathing beach, so the content of negative oxygen ion in the air is very high. It is very beneficial to human health to bathe in the forest bathing beach frequently. There are also famous Yuntao temple, Huolong temple, Fengshan temple, observation platform and other famous landscapes.
it should not, because they know that the price of gold will keep rising Gold up! Up! Up! Global trade tensions remain, market risk aversion heats up, coupled with the tide of interest rate cuts by central banks around the world, all these factors are driving the rising trend together among them, the central bank's holdings of gold in April and may were significantly enlarged, which was also the low level of gold so far this year in fact, not only the Central Bank of China, but also the central banks all over the world are buying wildly. According to a report recently released by the world gold association, in the first half of this year, global gold demand increased by 8% year on year to 2181.7 tons, a new high in the same period of nearly three years, mainly e to the record purchase of gold by the central bank
April 17, 2006 19:28:06
on April 11, the price of gold futures on the New York Mercantile Exchange broke through the $600 per ounce mark, and soared to $604.22 at noon on that day, reaching a new high of 25 years since 1981. Accompanied by this, the international precious metal prices rose comprehensively, breaking through the market psychological price repeatedly
affected by the international market, the domestic gold price "rises with the tide". On April 11, the closing price of 9999 gold on the Shanghai Gold Exchange reached 155.05 yuan per gram. The prices of gold ornaments in various places have also risen in an all-round way. In Beijing, qianzujin has risen from 165 yuan to 175 yuan per gram, in Shanghai it has risen to 180 yuan, and in Guangzhou it has reached a high of 200 yuan, the highest in 20 years<
a few months ago, when gold was in a roundabout position of $550, the market was mixed. Some institutions predict that this year, the price of gold will fall to 350-375 US dollars per ounce. However, with the gold price still strengthening and breaking through the $600 mark in the negative background of the 15th interest rate increase by the Federal Reserve, the bearish voice quietly disappeared, and most international investment institutions graally raised their gold price expectations< On April 13, gold closed at $595.50 an ounce in London, down slightly from $600.18 the previous day. On the same day, Zheng lianghao, managing director of the Far East region of the world gold association, received an exclusive interview with this newspaper<
the rising market will last for a long time
"21st century": now what is the price of this round of high point? Can we break through the 1980 price
Zheng lianghao: I can't say that. Now all the analysis, including those foreign experts, have this view and think it will increase<
"21st century": in this round of growth, not only the price of gold, but also precious metals such as copper, silver and platinum are rising. This seems to be different from the boom in 1980
Zheng lianghao: Yes. In this round of growth, the price surge is not only gold, but also other precious metals. The prices of raw materials, including coal and oil, have risen. The main reason for these commodities to rise is the special pursuit of these commodities by two major developing countries, China and India. Because the overall economic growth of these two countries has driven commodity prices<
21st century: how long do you think the rising market will last
Zheng lianghao: whether the price will go up or not depends on the change of supply and demand. Now that demand is growing, is supply growing? 150 years ago, the annual output of gold was about 25 tons. Due to the discovery of a large number of gold deposits in the 19th century and the improvement of mining technology, the output of gold increased greatly. But in 2004, the reserves of gold mining companies decreased from 17 years in 1992 to 11 years. Many big miners say that in the next five to seven years, the mineral resources of the miners will not increase, because in the past few years, no big new minerals have been found, no new minerals have been found, that is, no new things have come out, so the supply will not increase<
it is expected that the depreciation of the US dollar is the main cause
21st century: this round of market is easy to recall the gold price surge in 1980. What are the similarities and differences between the two causes<
Zheng lianghao: the market in 1980 was based on the political crisis and economic recession at that time. In 1971 and 1973, two devaluations of the US dollar, followed by two oil crises, doubled the price of gold. Especially at the end of 1979, the hostage crisis of the United States in Iran and the dispatch of troops from the former Soviet Union to Afghanistan caused the global political turmoil, resulting in the huge demand for gold in the international market and the rising price. On January 18, 1980, the price of gold in London was as high as US $835.5 per ounce, while the price of gold futures in New York was US $1000 per ounce, reaching the highest price in the history of gold
judging from the factors of the current round of gold rise, what is similar is the geopolitical fluctuation, that is, the recent Iranian nuclear crisis
economically, investors expect the dollar to go down
a very important proof for the expected decline of the US dollar is that the US fiscal deficit and trade deficit reach new highs every year, and investors have great doubts about how the US can solve the deficit<
21st century: is this doubt enough to affect the price of gold<
Zheng lianghao: because the deficit is too big, what may follow is the devaluation of the US dollar. The next step of devaluation is to "pass it on" to the countries that buy their bonds, including China and other Asian countries. The biggest impact of the depreciation of the US dollar is gold. When the depreciation of the US dollar is expected, investors have expectations for gold<
21st century: what is the trend of gold and US dollar
Zheng lianghao: in the past, generally speaking, higher US dollar interest rates were not good for gold. In other words, if the interest rate of putting money in the US dollar is higher, the possibility of buying gold is less. But in this round of market, the United States has been raising interest rates, but the price of gold has also been rising. Maybe investors don't believe that the purchasing power of the dollar can preserve its value - even if I get a high interest, it's useless when I get it<
it will not have a substantial impact on China's economy
21st century: the continuous rise of international gold price has also driven the domestic gold price. What kind of impact will this continuous rise have on China's economy<
Zheng lianghao: my point is that it will not have a substantial impact. Although the proction and processing capacity of China's gold proction enterprises can not be greatly improved in the short term, the increased demand for gold also depends on imports to a large extent, which may cause worries about the pressure on the stability of the RMB exchange rate. But in fact, e to the stability of RMB exchange rate, even the pressure of appreciation, and the abundant foreign exchange reserves, it is difficult for the increased gold imports to have an improper impact on the RMB exchange rate under the premise that RMB is not fully convertible and the gold market is not open to the outside world
21st century: is there any digital support for this view
Zheng lianghao: it's very simple. At present, China's gold consumption remains at about 200 tons for several consecutive years. After the opening of the gold market, the investment demand for gold is expected to rise by a large margin, and the consumption demand is likely to be basically the same as in previous years. For example, in 2004, China's gold market only increased the demand of about 30 tons, even if the increased 30 tons of gold were met by imports, and the required capital was not more than 500 million US dollars. Compared with China's foreign exchange reserves of hundreds of billions of US dollars, the pressure on the RMB exchange rate should be very small, or even negligible. According to international experience, the demand of gold market in the early stage of opening up grows rapidly, and then it will be flat or even lower. Therefore, the impact of gold market opening on RMB exchange rate is within the control range<
21st century: according to your opinion, it seems that the growth of demand for gold mostly comes from investment demand
Zheng lianghao: Yes. In recent years, the demand for investment has increased significantly. According to our calculation, it has increased by at least 30%. Therefore, the growth of demand for gold comes mostly from investment<
21st century: which aspects of investment dominate<
Zheng lianghao: the world's gold demand mainly comes from four aspects: jewelry processing demand, instrial demand for electronic and communication equipment, central bank's money reserve demand, and private investors' storage and investment demand for gold ingots and gold coins. Among them, jewelry gold demand accounts for about 70%. China's gold consumption is mainly jewelry gold, accounting for about 96% of the total market consumption
21st century: as you said, high gold prices attract a lot of investment and speculative funds. Will this bring pressure on China's or the world's financial markets
Zheng lianghao: the gold investment market is still a small part of the overall investment market. In recent years, the price of oil has soared, and the purchasing power of oil procing countries is very high. Some people exchange the money they earn from oil for gold. In addition, there are also a lot of fund investment or speculation in gold. However, the overall investment in the whole gold market is really too small. There are only one or two points for the overall investment market, such as foreign exchange investment, so it will not have much impact
there are three factors for the rise of gold price: rising risk aversion, poor U.S. economic data and rising interest rate cut of the U.S. dollar. Especially, gold price is linked to the U.S. dollar, which is easily influenced by the U.S
1. The recovery of risk aversion promotes the rise of gold price
when the global financial system is unstable, capital will flow to gold and other risk averse assets. As a result of worries about Sino US trade war, gold prices have been rising. Market speculation that the Federal Reserve may rece interest rates this year, further promoting the continued bullish gold prices
2. Poor U.S. economic data
the gold market performed well in 2019, which was mainly e to the weak global market economy, poor U.S. financial market and economic performance, and the U.S. economic slowdown spread to the market, increasing the market's concern about the U.S. interest rate cut, and the pressure on the U.S. dollar, thus increasing the gold price
Due to the poor economic data of the United States and the fact that a number of international investment banks have indicated that the Federal Reserve will start to cut interest rates this year, the expectation of the Federal Reserve to cut interest rates continues to rise. For gold, 2019 may be a year of soaring gold prices < H2 > extended datageopolitics supported the rapid rise of gold price in the short term, but it was only a sudden temporary factor. In fact, gold price was originally at a high level, and the pending Sino US trade friction was also one of the factors supporting gold price
although China and the United States have reached a consensus on the first phase of the agreement, the specific arrangements for the agreement and how to make progress in the next step are still unclear, so this will also be a risk factor affecting the trend of gold prices in 2020
1. The relationship between supply and demand, when the output of gold does not increase, but the demand for gold increases, the price of gold will naturally rise
2. Risk aversion. When the economic situation is bad, investors will buy a lot of gold to avoid risks, which leads to the rise of gold price
3. Inflation, more and more investors will buy gold to fight against inflation
Policy: loose monetary policy will support the rise of gold price
precautions:
weight: gold jewelry is divided into K-gold and pure gold. K-gold is an alloy made by adding some other metals to increase hardness and rece melting point, as well as simulated gold jewelry. Different kinds of gold jewelry have different prices, so what kind they belong to, Avoid buying unmatched jewelry at a high price. The weight of gold jewelry is larger than that of imitation gold jewelry of the same size
Maintenance: the maintenance of gold jewelry is very important. Do not pull hard and avoid contact with cosmetics such as toilet water. Otherwise, it is easy to change color. You can brush it gently with detergent in warm water and then rinse it with clean water
generally, the occurrence of war will affect the price of gold.