China is boosting its influence in global gold markets by establishing its largest gold investment fund led by Shanghai Gold Exchange, which is expected to raise about 100 billion yuan, 16.1 billion dollars. China has established its largest gold-investment fund in northwest China's Xi'an City aiming to bolster Beijing's role in global gold trade. The fund may also boost China's power over the world gold market. Some experts suggest that the ultimate goal of Beijing is to create a viable alternative to London's global gold trading center with a prospect of establishing the world's largest gold trading hub in China. Indeed, Asia's gold demand is growing rapidly, accounting for more than 70 percent of the global total. Today China is the world's largest gold producer.