BLBG: Gold Production in China May Advance by 5% This Year, National Gold Says
China’s gold output this year may gain 5 percent from about 313 metric tons last year, Song Quanli, deputy party sectretary general at China National Gold Group Corp., China largest gold producer, said in an interview today.
“But the output growth can not keep up with the demand growth so far this year given investors’ enthusiasm for physical gold holdings such as gold bars,” Song said. “Our retail branches reported 30 percent to 40 percent growth in sales in the first half of this year.”
Separately, the company is considering listing its non-gold related assets in Hong Kong, Song said.
