China’s gold consumption surged more than 36 percent year-on-year last year to around 1,121 metric tons, an industry report said on Thursday.

Compared with the pre-COVID 2019 level, domestic gold consumption last year was some 12 percent higher.

Consumption of gold jewelry in China rose 45 percent year-on-year to 711 tons last year, with the level 5 percent higher than that of 2019.

The effective pandemic controls in 2021 and macroeconomic policies have supported demand, putting gold consumption on a recovery course, while the rapid development of the country’s new energy industry and electronics industry has also encouraged purchases of the precious metal, said the association.

With the rapid development of the domestic new energy industry and electronics industry, the demand for gold for industrial use has also maintained steady growth.

China has very strict regulations on the import and export of gold and its products, involving the application for gold certificates. Our company specializes in the import and export of gold products, including gold jewelry, industrial gold wire, gold powder, and gold particles.