China Posts Double-digit Growth in Gold Production

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Last updated at: (Beijing Time) Friday, August 01, 2003

China Posts Double-digit Growth in Gold Production

China's gold production maintained a strong momentum in the first half of this year despite the impact of severe acute respiratory syndrome and serious floods.

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China's gold production maintained a strong momentum in the first half of this year despite the impact of severe acute respiratory syndrome and serious floods.

Statistics show that between January and June, China turned out 88.12 tons of gold, an increase of 10.28 tons, or 13.21 percent, over the same period of last year.

Of the total production, Shandong Province made up 26.22 percent, Henan Province 14.97 percent, and Shaanxi Province 9.15 percent. They were followed by Fujian, Hebei and Liaoning provinces.

Due to high prices on domestic gold market, gold producers nationwide recorded better economic returns in the first half of the year, according to the China Gold Industry Association.

The enterprises garnered 974.3 million yuan (117.39 million US dollars) in profits upon a gross industrial output value of 11.767billion yuan (1.42 billion US dollars), a year-on-year growth of nearly 60 percent and 16.62 percent respectively, the association said.

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