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China's gold reserve ranks fifth in the world

(People's Daily Online)
Updated: 2010-03-09 13:53
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China's gold reserve amounts to 1,054 tons, ranking fifth in the world, said Yi Gang, central bank vice governor on Tuesday.

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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.