The Globe and Mail reports in its Tuesday edition that in China, gold is considered its top import from Canada by value, while Canada says it is canola and coal. The Globe's Steven Chase writes that according to China Customs data, the value of gold imports is over 10 times higher than what Canadian export statistics indicate. Joseph Cavatoni at the World Gold Council said a piece of Canadian bullion might pass through the hands of four or five people between the time it started at the Royal Canadian Mint and made its way into the hands of the People's Bank of China. "China has been at the top of the list in terms of central banks buying gold over the last 15 years in terms of the trend that we've seen," Mr. Cavatoni said. China's central bank has been removing U.S. dollars or assets based on the U.S. dollar or euro from its holdings and substituting these with commodities such as gold. "There are homegrown concerns around inflation, the property market hasn't done very well, the economic situation around corporate growth has been bleak," Mr. Cavatoni said of China. "Equities have been up and down. Bond markets are challenged, and their renminbi is under pressure, so they're diversifying their own reserves."