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China's gold reserve ranks fifth in the world

(People's Daily Online)
Updated: 2010-03-09 13:53

China's gold reserve amounts to 1,054 tons, ranking fifth in the world, said Yi Gang, central bank vice governor on Tuesday.

Related readings:  Private gold stock triples treasury reserves  Gold hits one-week high on fears over currencies

China is the largest gold producer in the world, with more than 300 tons of gold produced annually. China is also the second largest gold consumer in the world, with a consumption of over 400 tons of gold a year, second only to India.

It is conservatively estimated that there are far more than 3,000 tons of gold accumulated among Chinese people.

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