China’s gold production rose slightly in 2025 while overall consumption fell, amid a shift away from jewelry and toward investment products, data from the China Gold Association showed on Thursday.
The country produced 381,339 tons of gold last year, up 1.09 percent from the previous year, while production from imported raw materials rose 8.81 percent to 170,681 tons, the data revealed.
The association announced that a number of research, development and technology projects have achieved gradual breakthroughs in 2025.
In terms of consumption, gold consumption totaled 950,096 tons last year, down 3.57 percent year-on-year, as demand for jewelry fell sharply while purchases of gold bars and coins rose, marking the first time that annual levels of investment gold exceeded jewelry consumption in China.
Gold trading activity rose sharply in domestic markets, and total gold turnover rose strongly on both the Shanghai Gold Exchange and the Shanghai Futures Exchange, reflecting increased participation in the context of elevated prices.
The higher prices also fueled strong inflows into gold exchange-traded funds (ETFs), which added 133,118 tonnes over the year, up 149.91 percent from the volume recorded in 2024 and bringing total ETFs to 247,852 tonnes by the end of December, according to data, Xinhua reported.
