Silver News

Shanghai Silver Industry Zone Slated

In an effort to cultivate China’s burgeoning silver industry, private investors are planning to build the Shanghai Silver Industry Exploitation Zone.

Led by Shanghai Contor Enterprise Develop Company, the 500-acre zone will “enhance the competitiveness and status of the Chinese silver industry in the international market,” officials said.

The development will be divided into several areas which include: production and processing of silver products, trade, logistics, business affairs, exhibition, information, scientific research, education and other services, and other relevant industries such as silver processing machinery, sensitive materials and electronics. The production and processing area will include deep processing, producing sensitization materials for electronics such as thick films, and an area devoted to silver antiseptic products. The trade area will encompass a technical information and research exchange, an education area, a media area to publish books and papers about silver, a silver culture museum and garden, and a management area which will have a hotel, offices and restaurant.

Currently China ranks 5th in the world in silver production behind Mexico, Peru, Australia and the United States. China consumes 1,664 tons of silver annually compared to 6,587 tons in the United States. In addition, per capita consumption for China in 2002 was 1.04 grams compared to 70 grams in developed countries. With the opening of China’s silver market, production and consumption are expected to rise.

Shanghai was chosen as a silver center because of its strength as a center of business and finance. The development will be supported by an existing infrastructure including telecommunications, roads, communications, gas and electricity.

The first phase of the project is scheduled to end in 2005 with completion of the entire project by 2008.

For more information: Shanghai Contor Enterprise Develop Company, Tel: 86-21-52901122, Email: pd@imetal.cn ; Website: www.imetal.cn.

Silver News - Fourth Quarter 2003