Business Intelligence on Retailing, Franchising, and Consumerism in China

China Consumed Over 1,000 Tons Of Gold In 2013

Latest statistics revealed by China Gold Association showed that during 2013, China's gold consumption was over 1,000 tons for the first time, reaching 1,176.4 tons.

This marks a year-on-year increase of 41.36%. By sector, China's consumption of jewelry-related gold reached 716.5 tons, a year-on-year increase of 42.52%; the consumption of gold bars was 375.73 tons, a year-on-year increase of 56.57%; the consumption of gold coins was 25.03 tons, a year-on-year decrease of 1.07%; the consumption of industrial gold was 48.74 tons, a year-on-year decrease of 0.23%; and the consumption of gold for other uses was 10.4 tons, a year-on-year decrease of 32.03%.

Meanwhile, in 2013, China's gold output reached 428.16 tons, an increase of 6.23% compared with the previous year. This was also a record-high output and China's gold output ranked the first in the world for seven consecutive years.

The top ten Chinese provinces for gold production were Shandong, Henan, Jiangxi, Inner Mongolia, Yunnan, Hunan, Gansu, Fujian, Hubei, and Xinjiang. The output of the ten provinces accounted for 82.94% of the total output in China.

In addition, during 2013 Shanghai Gold Exchange completed trade of 11,614.45 tons of gold products, with total trade value of CNY3.213 trillion.

Image Credit: Ruslan Rizvanov

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