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Friday, 6th February 2004 (4450 views)

New statistics show that for the first time ever, China's gold output reached 200.598 tonnes last year.<BR/><BR/>The China Gold Association's (CGA) figures revealed that it has only taken China eight years to reach the new high after output was at just 100 tonnes back in 1995.<BR/><BR/>Becoming one of the main gold production companies, China has risen from a few mines to a complete and independent fully functional industrial complex.<BR/><BR/>An official at CGA told People's Daily that the middle of the 1990s saw China's gold industry system experience a great transformation and it is now growing towards the realisation of a group and scale operation, acquiring certain internationally competitive power.<BR/><BR/>According to the official, the acceleration of China's gold industry in the market has been affected by a number of operations such as the abolishing of the 'state monopoly of purchase and allocation' policy, the operation of the Shanghai Gold Exchange and three gold companies going public.

 

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