Beijing, China -- (SBWire) -- 12/06/2010 -- China had been the world’s largest gold producer for three consecutive years from 2007 to 2009. In the first half of 2010, its gold output totaled 159.24 tons, increased by 12.74 tons, or 8.69%, over the same period of 2009; of which, the output from gold mines achieved 131.47 tons, up 9.76% year on year.

From the perspective of provinces, Shandong, Henan, Jiangxi, Fujian, and Yunnan are the major producers of gold in China. Of which, Shandong, Henan and Fujian mainly produce mineral gold, while Jiangxi and Yunnan highlight byproduct gold. In 2009, the gold output of the five provinces amounted to 186.8 tons, occupying 59.5% of the total.

In regard to demand, the gold demand of Chinese market mainly comes from gold jewellery consumption and investment. In the aspect of gold jewellery consumption, despite the universally declined gold jewellery demand by 20% in 2009, the gold jewellery demand in Chinese market witnessed a YoY growth of 6% and the consumption accounted for 12.9% of the global total, indicating the enormous consumption potential of gold jewellery in Chinese market. As for the investment demand, China experienced a substantial increase by 22% of gold investment demand throughout 2009, which resulted in the fact that China had become the global largest non-western gold investment market in that year. Along with the further rising gold jewellery consumption and investment demand in the Chinese market, China’s gold demand will see a sustainable growth in the future.

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