- China’s jewellery market has witnessed stunning growth: from 1990 to 2019, jewellery demand averaged 17% annual growth. In 2019, China accounted for over 30% of global jewellery demand.
- China’s bar and coin market has also experienced rapid expansion: demand grew to 211 tonnes (t) in 2019 from just 12t in 2004. Meanwhile, the young Chinese gold ETF market is also expanding.
- China has been the world’s largest gold producer since 2007, representing 11% of the world’s total mined gold production in 2019. Currently, China’s gold mining industry is transitioning from quantity-driven growth to quality-driven growth.
- Having developed for 17 years, gold trading volumes at Shanghai Gold Exchange (SGE) totalled 68,574t in 2019, making it the largest spot gold exchange in the world.