China 2013 gold output at record high 428 tonnes: Industry association

BEIJING - China's gold output in 2013 rose 6.2 per cent from the previous year to a record high 428.16 tonnes, making the country the world's biggest producer for a seventh straight year, an industry association said on Monday.

The China Gold Association did not give further details. China's official gold reserves stand at 33.89 million ounces (1,054 tonnes), unchanged since April 2009, according to the latest figures on the country's central bank's website. (www.pbc.gov.cn).

China last announced a rise in its gold reserves in April 2009 and has not revised the figure since, though there had been recent market speculation that the bank had been accumulating gold reserves and would announce a new figure.

China's foreign exchange reserves, the world's largest, rose to $3.82 trillion (S$4.85 trillion) at the end of 2013.