$PAXG

PAXGUSDT
always
3,980.27
-0.68%
China cancels the tax exemption on gold trading, disrupting global markets
In a surprise that shook global markets, China has decided to abolish the tax exemption on gold trade, marking the beginning of a new phase of economic policies aimed at controlling liquidity and boosting revenues. The decision of the "Chinese dragon" raises questions about the future of the yellow metal globally, and the stability of the Chinese yuan domestically.
After years of encouraging gold purchases through excessive tax exemptions, Beijing has officially announced the imposition of value-added tax on gold trade within the country. The decision includes the sale and purchase of bullion, jewelry, and even raw gold, which means an increase in its direct cost to Chinese consumers.
Observers believe that this decision is not just an administrative adjustment, but reflects a shift in the priorities of the Chinese government, which is seeking to secure additional financial resources after the sharp decline in the real estate sector and weak economic growth.
According to Moneycontrol, ending the exemptions will make gold more expensive in the local market, which will lead to a slowdown in domestic demand and put pressure on global prices, as China is the largest consumer and buyer of gold in the world.
Although the step appears to be financial on the surface, analysts believe it carries a clear regulatory dimension, $BTC .
BTCUSDT
Always
110,358.6
+0.33%
#KITEBinanceLaunchpool #MarketPullback #FranceBTCReserveBill #FOMCMeeting
XRPUSDT
always
2.5277
+