Wales Chinese language teaching project forum held in Confucius Institute at Cardiff University

Wales Chinese language teaching project forum held in Confucius Institute at Cardiff University

Recently, 9th Wales Chinese teaching project forum was held in Confucius Institute at UK’s Cardiff University. 32 language teaching heads from Confucius Institutes at University of Wales Trinity Saint David, Bangor University and the primary and secondary schools in Wales, were present at the forum.

The forum, taking “Gather strength, Improve together” as topic, aimed to sum up Chinese teaching experience and achievement in the past half a year and to overcome the difficulties encountered in local Chinese teaching, which facilitate the integration of the Chinese language to Welsh language teaching system and determine the future development plan of Chinese teaching projects in the primary and secondary schools of Wales.

The forum opening ceremony was presided by Rachel Williams, primary and secondary teaching project manager of Confucius Institute at Cardiff University, and Chinese dean Yubei Zhou delivered a welcome speech. Rachel made a comprehensive summary of the development of Chinese language teaching in Wales over the past eight years. She emphasized the important support from Chinese national Hanban and Welsh government for Chinese language teaching. She also pointed out that the focus of Chinese teaching in primary and secondary schools in the coming years will be cultivating local Chinese language teachers.

Later on, some Confucius classroom directors discussed one after another about the impact of globalization on school education. They said that language teaching plays a vital role in helping better adapt the local citizen to the new circumstances. The development of Chinese language teaching has set up a communication bridge between Wales and China, which benefits the regional development in the long term.

After one day of a heated discussion, the delegates proposed many methods of localizing Chinese language teaching, for instance, drawing the reasonable teaching outline, providing teachers with a probation period, attracting parents on Chinese teaching and so forth. They also made an agreement on intercollegiate and regional (e.g. with England) exchange and cooperation. The delegates generally believe that improving communication channels and strengthening the publicity can effectively promote Chinese language and culture in Wales.

It is understood that Confucius Institute at Cardiff University places a great importance on Chinese teaching in the local primary and secondary schools since its establishment. So far, more and more schools in Wales have absorbed Chinese teaching into Welsh Baccalaureate. Welsh government has also given a strong support for Chinese teaching.

Gold demand is falling sharply in China and India

China and India have the largest demand for gold in the world, however, two countries are getting a sharp downturn in demand for gold this year. Contrary to the situation in Asia, gold becomes popular in Europe. With many uncertain factors such as UK’s exit from EU, FED’s expectation of increasing interest rate cooling down, Italian bank industry’s predicament and US presidential election, the demand for gold in the west soars.

Gold demand is falling sharply in China and India

Consumption decline in the two biggest gold importing countries

China’s domestic demand in physical gold slumped. Gold and silver jewelry sales in the 50 national key large-scale retailers fell by 20.9% in the first half of 2016, 22% below that of the corresponding period last year.

In the aspect of the consumption, the national gold consumption has diverged in the first half of 2016. The national total gold consumption was 528.52 tons, down 7.68% year on year, in which gold jewelry consumption 340.64 tons, down 17.38% YoY and gold bars 128.19 tons, up 25.33% YoY.

Gold demand is falling sharply in China and India

India also showed a sharp drop in demand for gold, with the lowest imports for decades.

Due to the minimal domestic gold production, India is highly dependent on imports. In recent years, the country’s import mainly falls from 700 to 900 tons, reaching 947 tons in 2015.

Gold demand is falling sharply in China and India

Since Indian government continuously imposed on import restrictions and taxes, India’s gold import totaled a mere 130 tons in the first half of this year, touching the lowest level in the at least last 20 years. India’s jewelry demand in the second quarter fell to 69 tons, down 56% YoY and net investment down 40% YoY.

Prithviraj Kothari, president of India’s largest gold dealer RSBL, said, “Nearly all the dealers and banks didn’t get little business in the past five months. It is difficult to adapt to Indian government’s changeable policy. At the same time, it is hard to bear a discount of 30-100 dollars per ounce.”

Gold demand is falling sharply in China and India

Gold investment in the west rises up

Report from GFMS on July 26 showed a major increase in gold investment in the west, which helped offset the impact of falling demand in Asia in the second quarter. GFMS raised its estimate of this year’s gold price, in response to doubts on the economic prospects.

The report claimed that raising the estimate reflects the strong increase of gold price since the beginning of the year, as well as the market shift caused by the heightened uncertainty of economic and political future, including UK’s exit from EU, FED’s expectation of increasing interest rate cooling down, Italian bank industry’s predicament and US presidential election.

Gold demand is falling sharply in China and India

The above concern has led to the warming curve on gold investment in the second quarter. The funding flocking to gold ETF offset the impact of decreasing demand of Chinese and Indian buyers, which eased the oversupply situation in the gold market. Total gold ETF inflow in the first half of this year has reached 568 tons, as the highest semi-annual inflow scale.

The situation in the second quarter of 2016 is similar to the first quarter in which gold demand in China and India is very weak, but very strong in western market, especially triggered by the consecutive demand of ETF in the second quarter, at the same time, the asset allocation got re-assessed and gold has been listed in a more positive place.

Gold demand is falling sharply in China and India