China National Gold Group Gold Jewellery Association: The total national gold production in 2023 is expected to reach 519.289 tons, a year-on-year increase of 4.31%.

According to the latest statistics from the China National Gold Group Gold Jewellery Association, China's domestic production of raw gold is projected to be 375.155 tons in 2023, a year-on-year increase of 0.84%. Among them, gold produced from mines is expected to reach 297.258 tons, while by-products from non-ferrous metals will contribute 77.897 tons. Additionally, the import of raw materials is projected to yield 144.134 tons of gold in 2023, a year-on-year increase of 14.59%. Therefore, the total gold production in the country is expected to be 519.289 tons, a year-on-year increase of 4.31%. The majority of China's gold production is concentrated in large gold enterprises (groups). According to statistics, the domestic production of gold from mines within large gold enterprises (groups) is estimated to be 142.323 tons, accounting for 47.88% of the national gold production. Among them, companies such as Zijin Mining Group, Shandong Gold Mining, and Chifeng Jilong Gold Mining achieved a production of 60.378 tons of gold from overseas mines, a year-on-year increase of 18.28%. In 2023, China's gold industry will further implement a new round of exploration breakthrough strategies, steadily promote the construction of a secure gold resource guarantee system, and accelerate resource acquisition and production through exploration and expansion. Among them, Shandong Province achieved a major breakthrough in exploration and expansion through the new round of exploration breakthrough strategies. The Xiling gold mine in Laizhou, Shandong Province, has become the largest single gold deposit discovered domestically, and it is a world-class giant gold deposit. The preliminary estimate shows that the Xiling gold mine has added nearly 200 tons of gold metal, with a cumulative gold metal amount of 580 tons. Shandong Gold Mining, Zijin Mining Group, and Shandong Zhaojin actively layout high-quality resources and integrate multiple gold and copper mining projects in Gansu Xihedaqiao gold mine, Tibet Juno copper mine, and Gansu Dunhuang Beishan gold mine through mergers and acquisitions and bidding. China National Gold Group Gold Jewellery actively establishes an original technology "source" and has reached an internationally advanced level in multiple key core technologies such as biological oxidation gold extraction, mineral roasting gold extraction, and "99999" high-purity gold refining. Among them, the achievements in bio-metallurgy and tailings utilization have won the 24th China Patent Excellence Award. In 2023, the national gold consumption reached 1089.69 tons, an 8.78% increase compared to the same period in 2022. Among them, gold jewelry accounted for 706.48 tons, a year-on-year increase of 7.97%; gold bars and coins accounted for 299.60 tons, a year-on-year increase of 15.70%; and industrial and other uses of gold accounted for 83.61 tons, a year-on-year decrease of 5.50%. Under a series of policies to stimulate consumption, the national consumption market continued to recover and rise, with gold and silver jewelry being the fastest-growing category among all retail categories throughout the year. Gold jewelry processing and retail companies constantly innovate in the design of gold jewelry, and gold jewelry with lighter weight and new styles are favored by consumers, promoting the growth of gold jewelry consumption. The high attention to physical gold investment has led to rapid growth in the consumption of gold bars and coins with lower premiums. Among them, companies such as China Gold International and Beijing Caishikou Department Store Co., Ltd. have carried out "online + offline" business models, leading to continuous growth in sales revenue and strong consumer demand for gold investment products, making them the main force driving online sales growth. Lao Feng Xiang has ranked first in the "Fortune" China's top 500 listed companies for 13 consecutive years and has also been listed among the "Top 50 Global Luxury and High-end Brands," becoming the only jewelry brand in Asia to be selected. This further enhances the brand confidence and cultural self-confidence of China National Gold Group Gold Jewellery. In 2023, the total trading volume of all gold varieties on the Shanghai Gold Exchange reached 41,500 tons (20,800 tons on a one-way basis), a year-on-year increase of 7.09%, with a total trading value of 18.57 trillion yuan (9.28 trillion yuan on a one-way basis), a year-on-year increase of 22.31%. The total trading volume of all gold varieties on the Shanghai Futures Exchange reached 124,200 tons (62,100 tons on a one-way basis), a year-on-year increase of 43.90%, with a total trading value of 47.76 trillion yuan (23.88 trillion yuan on a one-way basis), a year-on-year increase of 55.43%. In 2023, the scale of China's domestic gold ETF holdings showed a steady growth trend. As of the end of the year, the domestic gold ETF holdings were approximately 61.47 tons, an increase of 10.04 tons compared to the same period last year, a year-on-year increase of 19.53%. In 2023, the international gold price fluctuated at a high level. At the end of December, the year-end price of spot gold in London was $2,062.40 per ounce, a 12.39% increase compared to the opening price of $1,835.05 per ounce at the beginning of 2023. The average annual price was $1,940.54 per ounce, a 7.80% increase compared to the previous year's $1,800.09 per ounce. The closing price of Au9999 gold on the Shanghai Gold Exchange was 479.59 yuan per gram at the end of December, a 16.69% increase compared to the opening price at the beginning of 2023. The average weighted price for the year was 449.05 yuan per gram, a 14.97% increase compared to the previous year. In 2023, the People's Bank of China accumulated a total of 224.88 tons of gold, bringing the country's gold reserves to 2,235.41 tons by the end of 2023. From November 2022 to December 2023, the People's Bank of China has been continuously increasing its gold holdings for fourteen consecutive months.