China's gold production set new record

China produced 212.35 tons of gold in 2004, setting a new annual record, according to the China Gold Association.

East China's Shandong Province remained the country's largest gold producing area with 64.5 tons of gold output in 2004. Other major gold producing areas include Henan, Fujian, Shaanxi, Liaoning and Hebei.

An official with the association said China's gold production had experienced fast growth since the mid-1990s. China produced only 90 tons of gold in 1994.

"Growth of China's gold industry faces a golden opportunity," said an official with the association. "China has a huge population of 1.3 billion and the Chinese economy grows very fast."

According to the association, China is the world's fourth largest gold producer and consumer.