FX.co ★ China's gold and foreign exchange reserves are growing for the 15th year in a row

The world economic superpower, which is China, has reported another year of growth in its gold reserves. At the moment, this is already a 15-year growth.

According to the yearbook issued by the China Gold Association (CGA), the total volume reached 14,727.16 tons by 2020.

The report says that gold production in the country still ranks first in the world, amounting to 365.35 tons in 2020. According to the CGA report, this is 14.88 tons or 3.91% less than in the same period of 2019. It is due to all the problems of the COVID-19 epidemic and political events related to mining rights. The total volume of gold trading on the Chinese market in 2020 reached 95,500 tons, which is 13.72% of gold transactions on the world market.

Noting the apparent slowdown in the rate of reduction of gold production in 2020 compared to previous years, the transition of the Chinese gold mining industry from high-speed growth to high-quality development shows good dynamics.

The yearbook published by the CGA contains an analytical report on the development and future trends of the Chinese gold mining industry, covering the entire industry chain, including gold exploration, production, processing, and investment. It is done for clarity and understanding that gold is an important part of the country's future.