Tianjin (CNS) -- China has developed from a follower into a leader in the global gold industry and its gold output is expected to top 350 tons this year, said Sun Zhaoxue, president of China Gold Association (CGA), on November 7 at the China Mining Congress and Expo in Tianjin.
China became the world's largest gold producer in 2007, surpassing South Africa with an annual output of 270.95 tons, and has kept its first place for four years in a row, said Sun.
In the first three quarters of 2011, China's gold output hiked by 4.32% year-on-year, keeping a strong momentum, and the annual output is expected to exceed 350 tons, Sun added,
China's gold consumption has also grown rapidly, according to Sun. China has surpassed Italy and Turkey to become the world's second largest gold jewelry consumer, only next to India. China's gold consumption is expected to top 400 tons in 2011, added Sun.
He remained optimistic about the prospect of China's gold industry, which has stepped into a new development phase in terms of design, processing and manufacturing, said Sun. In the future, China's gold output is expected to reach 400 tons, with room of further growth for both production and demand.
The 2011 China Mining, held from November 6 to 8, has attracted over 4,800 participants from over 50 countries around the world.
