China Gold Association condemns U.S. listing of Chinese gold firms

The China Gold Association said the U.S. Department of Homeland Security’s placement of certain Chinese gold enterprises on the Uyghur Forced Labor Prevention Act (UFLPA) Entity List lacks factual support and politicizes human rights issues while promoting trade protectionism. It also criticized the London Bullion Market Association (LBMA) for suspending the companies’ Good Delivery status without adequate verification, warning that the decision harms their lawful interests and could disrupt global gold-market stability. The association said China’s complete gold supply chain, large domestic market and industry resilience can absorb the impact, although analysts expect some short-term pressure on affected companies’ international business. It will coordinate rights-protection efforts, strengthen compliance, traceability and green-mining practices, support the Chinese government’s position and necessary countermeasures, and pursue international dialogue. The association urged the U.S. to end what it called sanctions based on false information and the LBMA to correct its decision.

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