China dismisses reports of lost gold reserves

BEIJING? -- The central bank said Wednesday that reports of authorities investigating the loss of 80 tons of gold reserves from the national treasury are untrue and "pure rumor."

The remarks came in response to a report carried by a Hong Kong-based magazine stating that the Ministry of Finance, the central bank, the Ministry of Supervision and the National Audit Office had jointly set up special groups to investigate the whereabouts of 80 tonnes of gold reserves that had gone missing from the national treasury.

"The report was made out of thin air. The central bank denounces such practices," said an anonymous official from the bank, adding the bank reserves the right to hold those who spread rumors legally responsible.