12 Feb '11, 2am

China has been growing at an alarming rate, no surprises they are still the no.1 producers of gold

China has been growing at an alarming rate, no surprises they are still the no.1 producers of gold

China produced 270.5 tons of gold in 2007, becoming the No. 1 gold producer for the first time. -- PHOTO: REUTERS BEIJING - CHINA produced 340.88 tons (308,443kg) of gold in 2010, an increase of 8.57 per cent from last year, making it the world's top producer of gold for the fourth consecutive year, according to the website of the National Development and Reform Commission (NDRC) on Thursday. The NDRC said China's gold industry has been developing fast, at an annual growth rate of 9.8 per cent from 1978 to 2007. China produced 270.5 tons of gold in 2007, becoming the No. 1 gold producer for the first time. China retained that status by producing 282.1 tons in 2008, 313.98 tons in 2009 and 340.88 tons in 2010. NDRC said the adjustment of this industry has been sped up over the last five years. The number of gold-producing companies has been reduced from 1,200 to 700. Gold p...

Full article: http://www.straitstimes.com/BreakingNews/Asia/Story/STISt...

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