Gold companies' social responsibility highlighted in report

The Social Responsibility Report of China Gold Industry's Actions in Response to COVID-19 was released on Friday in Beijing by the China Gold Association, Shanghai Gold Exchange and the World Gold Council.

The report covers cases studies on how over 150 gold companies in China took efforts to resume production, avoid public contagion during the pandemic, and meanwhile carried out their social responsibility.

According to the report, major gold groups in China have carefully planned and implemented prevention and control measures after the outbreak of COVID-19, and resumed production under the government's guidelines in time. They also made donations to those in need.

Meanwhile, many small and medium-sized gold companies strived to overcome difficulties such as the shrinking gold consumption market and pressure on the capital chain and supply chain. They also made donations to those combating the COVID-19 pandemic on the frontline.

In addition, Shanghai Gold Exchange, banks, regulation departments and industry associations rolled out a series of measures to contain the pandemic, promote production resumption and offer support to those on the frontline combating the pandemic.

Lu Jin, head of China Gold Association, said gold's role as a safe haven asset has once again been highlighted during the pandemic.

Jiao Jinpu, chairman of Shanghai Gold Exchange, said they have done their best to prevent and control the pandemic while actively resuming work. Jiao said Shanghai Gold Exchange will continue working to control risks, guarantee work such as transactions will be carried out in an orderly manner, and maintain a stable operation of the gold market.

Nigel Ruth, global chief operating officer of the World Gold Council, said in a video message to the news conference on the report's release, that the council has made efforts carrying out WGC's social responsibility amid the pandemic such as establishing Heart of Gold, a global charity initiative to donate $1 million for relief due to the suffering caused by COVID-19.

"I am very pleased to see China's success in combating the spread of the virus and that life here has been gradually returning to normal. China's success in the fight against COVID-19 provides valuable experience for global epidemic prevention and control, now and in the future," Ruth said in the video message.