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)
