BEIJING (Commodity Online): China has emerged as the Gold king in 2009 as far as production and consumption are concerned.

China’s gold output reached 313.98 tonnes in 2009, up 11.34 per cent year-on-year. This was the first time that China’s gold output had exceeded 300 tonnes, setting a new record.

So far, China’s gold output has been first in the world for 3 consecutive years. In 2009, the industrial output value of China’s gold industry reached 137.53 billion yuan, up 18.56 per cent year-on-year.

China’s top 5 provinces by gold output are Shandong, Henan, Jiangxi, Fujian and Yunnan, and the Gold output of these 5 provinces account for 59.48 per cent of China’s total.

At present, more than 500 counties produce gold, and the gold industry has become the pillar industry in more than 100 counties.

Now, some people believe China will weigh on gold prices. After all, China is the one major gold producing country with rising production.

However, that gold is consumed internally, by the Chinese government or consumers. And it’s still not enough. China is becoming the roaring tiger of gold demand.

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