China becomes the third biggest consumer of gold

The total sales of gold and jewelry last year in China were valued over 140 billion Yuan, exports were valued at US$5.49 billion, and China has become the third biggest consumer of gold in the world, according to Cheng Fuming, the head of China Gold Association.

China's gold production has grown from 181 tons in 2001 to 240 tons in 2006, an average annual growth of 5.6%. In 2006, the gold industry pocketed a total profit of 6.1 billion Yuan.

By People's Daily Online



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