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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] Growing interest in gold amid U.S.-China tensions and a global de-dollarization trend is prompting calls within China’s gold industry to significantly expand production.
According to the website of state-owned China Gold Group, the company recently outlined plans under China’s 15th Five-Year Plan (2026–2030) to quadruple gold output and double copper production, aiming to become a global leader in the gold market. The group also set targets to double revenue, assets and profits.
Last year, China Gold Group increased gold and copper output by 7.78% and 4.6%, respectively, while surging gold prices helped drive a 25.9% rise in revenue and a 106.1% jump in profit.
The China Gold Association said recent expert forums held to draft a five-year development plan emphasized strengthening resource security, improving self-sufficiency, advancing mining and smelting technologies, and overcoming bottlenecks such as deep-shaft mining beyond 2,000 meters.
Industry participants also called for expanded exploration and greater investment in high value-added gold materials, including nano-gold used in high-tech applications.
Hong Kong-based South China Morning Post reported that China is accelerating efforts to secure gold supplies to reduce reliance on the U.S. dollar and meet rising domestic demand for jewelry and investment.
알파경제 Paul Lee 특파원(hoondork1977@alphabiz.co.kr)
