China's gold output up 1.09% in 2025 amid shift to investment-grade assets

China's gold sector demonstrated robust resilience and a strategic pivot toward investment-grade assets in 2025, as domestic production climbed and investor appetite for bullion reached record heights, according to the latest data from the China Gold Association (CGA).

China saw its domestic raw material gold output rise to 381.34 metric tons in 2025, a steady 1.09 percent increase from the previous year. This growth was partly bolstered by aggressive global expansion strategies from the nation's leading mining conglomerates.

Overseas production by major Chinese gold groups surged to approximately 90 tons, signaling a remarkable 25 percent year-on-year increase, it said.

The 2025 data reveals a significant evolution in Chinese consumer behavior. While traditional jewelry consumption adjusted to 363.84 tons, down 31.61 percent year-on-year, the market saw an extraordinary surge in demand for physical investment products.

Demand for gold bars and coins skyrocketed by 35.14 percent to 504.24 tons, reflecting a powerful trend among investors to prioritize gold as a premier safe-haven asset. High-tech and industrial usage also maintained an upward trajectory, growing 2.32 percent to 82.02 tons, fueled by the nation's expanding electronics and green energy sectors.

The most striking growth occurred in the financial sector. China's gold-backed Exchange-Traded Funds (ETFs) witnessed an unprecedented inflow of 133.12 tons in 2025—a staggering 149.91 percent increase compared to the 53.27 tons added in 2024.

By the end of December 2025, total domestic gold ETF holdings reached a record 247.85 tons, it said.