A recent piece of news has attracted attention in the Capital Market – China has discovered a super-large underwater gold mine off the coast of Shandong, with proven reserves of about 3,900 tons, which is equivalent to one-quarter of the country's gold reserves.

How important is this number? China is already the world's largest gold producer, and this underwater discovery further consolidates this advantageous position. However, the issue is not just about production volume, but also about long-term strategic layout—mining underwater gold deposits is indeed challenging, yet it directly relates to resource discourse power for the coming decades. This means that the global supply pattern of gold is likely to be rewritten.

From an investment perspective, there are several logical chains worth considering.

First, if the supply of gold increases significantly in the future, its scarcity as a traditional "safe-haven asset" will diminish. During times of high economic uncertainty, capital typically rushes to gold for safety, but supply pressure may change this expectation.

Second, it is almost inevitable that funds will flow from gold to other assets. The key is where they will flow to—mining stocks and energy-related assets will benefit from this, but this wave of transfer may also push up demand in other categories.

Thirdly, the trend of international gold prices will directly reflect the market's repricing. At the same time, whether the gold reserve strategies of various central banks will be adjusted is also worth observing. Another detail is whether the overall heat of 'resource-type' assets will increase as a result.

In simple terms, when a significant piece of news comes out, the market usually needs time to digest and react. This time, it is a national-level resource chip, and the impact will definitely be long-term and far-reaching. Mining stocks, the energy sector, and even broader asset allocation strategies may all face reassessment. Which direction do you think will benefit the most from this wave of changes?