BEIJING, Oct.22 (Xinhua) -- China's gold production and sales volume have taken the lead in global market, and the domestic gold industry has stepped into a new development stage, according to Song Xin, president of China Gold Association at a recent mining industry conference.
China's total gold production reached 426.14 metric tons (tonnes) in 2017, accounting for 13.03 percent of worlds' total production, while the domestic gold consumption was 1,089.07 tonnes with a year-on-year growth of 9.41 percent, making China become the world's largest gold processing country and gold jewelry consuming market.
Meanwhile, China's unilateral gold trading volume reached 55,000 tonnes, ranking third in the world.
China's Shanghai Gold Exchange (SGE), the world largest gold floor trading market, saw the gold bilateral transactions surge 11.54 percent year on year to 54,300 tonnes in 2017.
China's gold reserves also increased in 2017. To be specific, China's proved gold reserves were 13,195.6 tonnes, up 8.45 percent year on year by the end of 2017, ranking second in the world after South Africa. (Edited by Jiang Feifan, Hu Pingchao)
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