As international gold prices continue to climb, gold prices in China have reached record highs.
On Wednesday, several major gold brands reported prices for pure gold jewelry exceeding 1,000 yuan (about 138.63 U.S. dollars) per gram, marking an all-time high.
On Wednesday local time, gold futures for June delivery on the New York Mercantile Exchange surged to 3,332.08 U.S. dollars per ounce, marking a 2.85 percent increase and setting a new all-time high for international gold prices.
Meanwhile, London spot gold prices briefly climbed above 3,310 U.S. dollars per ounce during intraday trading.
Since the beginning of April, gold has gained over 5 percent.
Driven by the momentum, the main gold futures contract listed on the Shanghai Futures Exchange once surged to 782 yuan per gram, setting a new record high. The spot gold price denominated in RMB has risen by about 26 percent so far this year, approaching the total gain for the whole of last year.
Recently, several major financial institutions, including Goldman Sachs, JPMorgan Chase, and UBS, have raised their forecasts for gold prices.
Analysts believe that as tariff tensions escalate once again and Asian markets show growing enthusiasm for gold investment, gold prices are continuously reaching new record highs.
China's gold prices hit new highs amid global market rally
China's gold prices hit new highs amid global market rally
The Langqi passenger terminal in Fuzhou of east China's Fujian Province officially commenced a new departure tax refund initiative for travelers heading on the "mini three links" route on Tuesday, with streamlined measures boosting the efficiency of tax refunds and speeding up customs clearance procedures.
The "mini three links" refers to direct trade, postal and transport services launched in 2001 between Fujian Province and the Taiwan-administered Kinmen and Matsu islands. It serves as a vital, convenient cross-strait passage for personnel exchanges and economic and trade interactions between the Chinese mainland and the Taiwan region.
At the heart of the upgraded service is an optimized procedure dubbed the "one document, one bag, one code" process, a simple and streamlined model designed to shorten clearance time for outbound passengers.
Under this framework, travelers who make purchases at designated pilot tax refund stores can have their qualified goods consolidated into a single sealed bag, with all corresponding tax refund information integrated into a unique QR code printed on the tax refund application form.
When departing via the Langqi passenger terminal, on-site customs officers only need to scan the QR code to retrieve and verify the details relating to the applicant's tax refund application. Travelers can then get quick customs clearance once the information is confirmed to be accurate, with no requirement to open their sealed shopping bags for repeated inspections.
Departure tax refund services launched at "mini three links" port in Fuzhou
