Last Updated :
09 March 2010 at 10:45 IST
China holds 1054 tons of gold reserves
BEIJING (Commodity Online) : World’s largest
Gold producer, China’s gold reserve amounts to 1,054 tons, ranking fifth in the world, according to China's State Administration of Foreign Exchange (SAFE).
However SAFE chief Yi Gang said the country would face serious constraints if it wanted to increase its gold holdings because the acquisitions would push up the price of the precious metal.
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China is the largest
Gold producer in the world, with a more than 300 tons of gold produced annually. China's gold output jumped 11.34 per cent to a record of 313.98 tones in 2009.
China is also a world's second largest gold consumer, with a consumption of over 400 tons of gold a year, second only to India.
It is conservatively estimated that there are far more than 3000 tons of gold accumulated among Chinese people.
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