China Gold Association: Gold Yield In China Reached 180.68 Tons In The First Half Of 2019

According to latest data from China Gold Association, in the first half of 2019, yield of domestic raw gold is 180.68 tons, decreasing by 9.6 tons compared to the same period in 2018, presenting a YOY growth of 5.05%. Among it, gold production of gold mine achieved 153.89 tons, presenting a YOY decrease of 4.78%; nonferrous by-product gold production achieved 26.79 tons, presenting a YOY decrease of 6.52%.

In the first half of 2019, gold production from imported raw material is 54.27 tons, presenting a YOY decrease of 11.22%. Total gold production in China is 234.95 tons including those made from imported raw material, presenting a YOY decrease of 6.55%.

In the first half of 2019, actual gold consumption in China is 523.54, presenting a YOY decrease of 3.27%. Among this, gold jewelry 358.77 tons, presenting a YOY increase of 1.97%; gold bar 110.51 tons, presenting a YOY decrease of 17.29%; gold coin 2.90 tons, presenting a YOY decrease of 29.27%; industrial use and others 51.36 tons, presenting a YOY decrease of 0.60%. Consumption of gold jewelry in domestic market demonstrates steady increase while consumption of gold bar and gold coin decreases in a significant way.

In the first half of 2019, top 5 regions in China in mine gold production is Shandong, Henan, Yunan, Inner Mongolia and Gansu. They totally contribute to mine gold production of 62.91 tons, presenting a YOY decrease of 7.31%, accounting for 40.88% in the entire country. Henan’s production presented a YOY decrease of 41.34% due to factors including dismissal of mining rights in natural reserve; Inner Mongolia’s production presented YOY decrease of 3.23% due to technical reforms of some companies.

In the first half of 2019, in spite of a general downward trend of mine gold production in the country, major companies in gold industry totaled mine gold production of 73.11 tons, a YOY increase of 3.19%, accounting for 47.51% in the industry in the entire country, which presented a YOY growth of 3.67 percent points.Under the setting of weak global macro economy and changing domestic economic structure, gold industry makes active response to the requirement of high-quality development in new era to deepen supply-side structural reform, eliminate backward capacity, optimize industrial structure, integrate quality gold resource and promote science and technology innovation.