China has discovered gold reserves worth 600 billion yuan ($82.9 billion) in the central Hunan province, according to state media outlet Xinhua. China holds the world’s largest gold reserves and remains the biggest producer, contributing approximately 10% of global gold output in 2023, as per data from the World Gold Council. In the first three quarters of 2023, China consumed 741.732 metric tons of gold, while its output stood at 268.068 tons, highlighting its reliance on imports to meet domestic demand despite possessing the world’s largest gold reserves.
