CHINA October 28 2016 12:18 PM
SHANGHAI (Scrap Register): China will keep importing gold even as the country’s output of the metal rises, said Commerzbank.

Analysts cited a report last week from the Ministry of Industry and Information Technology, which projected the country’s gold supply and gold demand up to the year 2020. 

“According to its figures, gold production is set to increase from 450 tons last year to 520 tons in 2020,” Commerzbank added. “Gold demand is expected to grow during the same period from 986 tons to 1,200 tons, which points to high Chinese gold imports in the long term.”

After all, there is obviously a big gap between supply and demand in China, with demand growth set to outpace supply growth in the projection period. China, along with India, is one of the world’s two biggest gold-consuming nations.