China's gold production back to pre-pandemic level

China's gold production recovers to pre-pandemic level as demand for gold and jewelry jumps during the first quarter this year, said an industry association on Tuesday.

China's gold output rose 6.92 percent in the first quarter of 2023 to 114.87  metric tons while mined gold output in the world's largest gold consuming country increased 1.9 percent to 84.97 tons from the same period a year earlier, the China Gold Association said on Tuesday.

Gold made from imported raw materials rose 24.41 percent year-on-year to 29.9 tons over January-March, contributing to a total output of 114.87 tons, while gold consumption grew 12.03 percent year-on-year to 291.58 tons in the quarter, it said.

Gold jewelry consumption increased by 12.29 percent year-on-year to 189.61 tons, while gold bar and gold coin demand rose by 20.47 percent on the year to 83.87 tons.

However gold use in industrial and other areas fell 16.9 percent on the year to 18.1 tons, it added.

zhengxin@chinadaily.com.cn