China's gold reserve ranks fifth in the world

China's gold reserve amounts to 1,054 tons, ranking fifth in the world, said Yi Gang, central bank vice governor on Tuesday.

China is the largest gold producer in the world, with a more than 300 tons of gold produced annually. China is also a world's second largest gold consumer, with a consumption of over 400 tons of gold a year, second only to India.

It is conservatively estimated that there are far more than 3000 tons of gold accumulated among Chinese people.

By People's Daily Online