SHANGHAI, Jul. 27 (SMM) - China's gold consumption is expected to reach 1,200 tonnes by 2020, Shanghai Securities News reported on Jul. 27.
Zhou Changyi, head of MIIT's raw materials for industry department, said that gold demand will grow rapidly in China, and current domestic production is unable to meet domestic demand.
According to China Gold Association, China produced 229.102 tonnes of gold in the first half of 2015, up 0.16 percent year-on-year, and during the same period, China’s gold consumption was 528.52 tonnes, down 7.68 per cent year-on-year.
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