Friday the numbers were released on total Chinese gold demand for 2013. Total demand can be measuredby the amount of physical gold that is withdrawn from the vaults of the Shanghai Gold Exchange. In the last full trading week (#52, December 23 – 27) of 2013 there were 53 tons of physical gold withdrawn, which brings the yearly total to 2181 tons. Yes, total Chinese demand for 2013 was 2181 tons, excluding PBOC purchases. All my sources in the mainland state the PBOC would never buy its gold through the SGE, so total demand including PBOC purchases may have reached well over 2500 tons. Which would imply total net import was 2000 tons.
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