CHINA China's gold production up 13.09 pct in 2022

CHINA

China's gold production up 13.09 pct in 2022

Xinhua

12:52, January 25, 2023

BEIJING, Jan. 25 (Xinhua) - China produced 372.048 tonnes of gold in 2022, up 43.065 tonnes, or 13.09 percent year on year, according to the data released by the China Gold Association (CGA).

Photo taken on May 10, 2021 shows a piece of gold ornament on display during the first China International Consumer Products Expo in Haikou, capital of south China's Hainan Province.(Photo: Xinhua)

Gold consumption in China totaled 1,001.74 tonnes last year, down 10.63 percent from the previous year, CGA data showed.

Consumption of gold jewelry dropped 8.01 percent year on year to 654.32 tonnes, while gold bar and coin investment decreased 17.23 percent from 2021 to 258.94 tonnes.

In 2022, gold price remained at high levels in global market, driven by factors such as geopolitical crisis, COVID-19 pandemic, the slowdown of the global economy, and rising inflation.

CGA's data showed that the annual average price of the Au9999, a highly refined pure gold, on the Shanghai Gold Exchange went up 4.53 percent year on year to reach 390.58 yuan per gram.

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