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(chinadaily.com.cn)
Updated: 2007-07-19 14:32

According to a recent report by the National Development and Reform Commission, China's gold industry recorded 31.86 billion yuan (US$4.21 billion) in revenue in the first half of this year, a 43.83 percent increase from the same period last year, taking in 3.5 billion yuan profits, a 40.35 percent year-on-year rise.

Gold production in the first six months increased by 15.26 percent from the same period last year to total 122.2 tons. 98 tons of that were mined, an 11 percent year-on-year rise, and the remaining 24.2 tons were by products of the non-ferrous metal industry, a growth of 28.2 percent.

The rising gold prices explain why the profits growth rate outpaced outputs. International gold prices have been on the rise since January, going from US$639.75 per ounce to US$650.50 per ounce at the end of June.