China's gold production rose 15.26 percent in the first half over the same period last year boosted by record prices, the nation's top economic planning agency announced on Tuesday.

Gold output was 122.2 tons from January to June, according to the National Development and Reform Commission (NDRC).

The NDRC stated the average global gold price in the first six months stood at US$ 658.75 per ounce, higher than the annual record of US$ 614.5 in 1980.

Technological advances and discoveries of new gold reserves also contributed to the increase, it said.

The gold sector earned 3.47 billion yuan (US$ 458.7 million) in net profits over the past six months, 40.35 percent higher than the same period last year, said the NDRC.

Industrial output soared by 43.83 percent to 31.86 billion yuan (US$ 4.2 billion) during the same period.

The NDRC said China discovered 162 tons of gold reserves in the Yangshan Gold Mine in the northwestern province of Gansu and large reserves of more than 50 tons in the same province as well as in the eastern province of Shandong and northeastern province of Heilongjiang.

(Xinhua News Agency July 18 2007)