Analysis of the Supply Status of China's Gold Industry in 2026: Domestic Production, Import Channels, and Overseas Equity Production jointly support [Gallery]

Translated from: Qianzhan Industry Research Institute

Major listed companies in the gold industry: China Merchants Gold (000506.SZ); Shandong Gold International (000975.SZ); Hunan Gold (002155.SZ); Zhongjin Gold (600489.SH); Shandong Gold (600547.SH); Chifeng Gold (600988.SH); Western Gold (601069.SH); Lao Feng Xiang (600612); Zhou Dasheng (002867); Chaohongji (002345), etc.

Core data of this article: Domestic gold raw material production in China; China’s imported gold raw material production; China’s mineral gold production, etc.

Domestic gold raw material production recovers and grows

From the production data, in 2025, domestic raw gold production reached 381.339 tons, an increase of 4.097 tons year-on-year, with a growth rate of 1.09%. The overseas gold production of large gold groups in China steadily increased, achieving a mineral gold production of about 90 tons, a year-on-year increase of 25%. Among them, Zijin Mining completed the delivery of two operating gold mine projects in Ghana and Kazakhstan.

Imported gold raw materials are an important supplement

From 2017 to 2025, China’s imported gold raw material production showed a clear and continuous growth trend. Starting from an initial level of about 90 tons, there was a brief adjustment in 2020, but the overall trend is upward, with a significant acceleration in growth after 2022, reaching about 170 tons by 2025. This sustained growth trend indicates that imported raw materials have steadily become an increasingly important component of China’s gold raw material supply system.

China’s mineral gold production is overall stable

In terms of mineral gold production. According to statistics from the China Gold Association, from 2020 to 2024, China’s mineral gold production first declined and then recovered. The gold mineral production was 298.41 tons, with a year-on-year growth of 0.39%. Overall, China’s mineral gold production remains stable.

During the period from 2020 to 2024, China’s mineral gold production accounted for about 8% of the global total, showing a basically stable pattern. Overall, China’s share as a major global gold producer is relatively solid.

China’s gold reserves exceed 2,300 tons

According to data from the China Gold Association, in recent years, China’s gold reserves have shown a year-on-year growth trend. By 2025, global central banks continued to increase their gold holdings. From November 2024 to December 2025, China has increased its gold holdings for 14 consecutive months. Among them, in 2025, China increased its gold holdings by 26.75 tons, and by the end of December, China’s gold reserves amounted to 2,306.32 tons.

For more industry research and analysis, please refer to Qianzhan Industry Research Institute’s “Analysis Report on Demand and Investment Operation Strategies of China’s Gold Industry Segmentation Market.”

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