China tops gold output for 5 consecutive years   

中国黄金产量连续五年保持世界第一

中国黄金集团公司副总经理宋权礼10日透露，从黄金产量上看，在全球传统产金大国产金量不断下滑的情况下，中国黄金产量持续增长，连续五年保持全球第一产金大国地位。

Beijing (CNS) -- China's gold output has remained the world's highest for five consecutive years in spite of continuous sliding yields by other major gold producers, Song Quanli, deputy manager-general at the China National Gold Group (CNGG), said Tuesday.

China's gold industry has been transforming from the extensive mode to a full chain of sophisticated detection, exploration, processing, consumption and investment trade services in the recent decade, Song said at a conference co-held by the CNGG, the World Gold Council and Thomson Reuters GFMS.

The global gold supply is expected to reach a new historic high, with more gold mines discovered and the amount of recycled gold rising, said GFMS' Executive Chairman Philip Klapwijk.

Market demand for gold manufacturing represented by jewelry will drop slightly, influenced by high gold prices, the global economic slowdown as well as reduced consumption, Klapwijk added.

The supply and demand imbalance will create a gold surplus in the market, which investors and official organizations will be asked to absorb, Klapwijk concluded.