According to the latest statistics of China National Gold Group Gold Jewellery Co.Ltd(600916) Association, the output of raw gold in China was 328.98 tons in 2021, 36.36 tons lower than that in 2020, a year-on-year decrease of 9.95%. The phased shutdown of two major gold producing provinces, Shandong and Henan, is the main reason for the decline of national gold production.
At the beginning of 2021, two gold mine safety accidents occurred in Yantai City, Shandong Province. In order to strengthen safety production supervision and carry out shutdown safety inspection for non coal mines, Zhaoyuan and Laizhou, the main gold producing areas, were shut down and began to integrate Township and private gold enterprises, resulting in a decrease of more than 50% in the output of mineral gold in Shandong Province. Lingbao, the main gold producing area in Henan Province, has rectified small and medium-sized gold enterprises, and the output of mineral gold has also decreased significantly.
In the case of weak supply, China National Gold Group Gold Jewellery Co.Ltd(600916) consumption picked up According to the statistics of China National Gold Group Gold Jewellery Co.Ltd(600916) Association, the actual consumption of gold in China in 2021 was 112090 tons, an increase of 36.53% over the same period in 2020 and 11.78% over the same period in 2019 before the epidemic. Among them, 711.29 tons of gold jewelry, an increase of 44.99% over the same period in 2020 and 5.18% over the same period in 2019; 312.86 tons of gold bars and gold coins, an increase of 26.87% over the same period in 2020 and 38.56% over the same period in 2019; Industrial and other gold consumption was 96.75 tons, with a year-on-year increase of 15.44%.
According to the analysis of China National Gold Group Gold Jewellery Co.Ltd(600916) Association, in 2021, with the remarkable results of China's overall economic development and epidemic prevention and control, China National Gold Group Gold Jewellery Co.Ltd(600916) consumption generally maintained a recovery trend and achieved relatively rapid growth. Due to the low base in the same period in 2020, the gold consumption in the first quarter increased significantly by 93.90% year-on-year. With the improvement of the epidemic prevention and control situation, the gold consumption demand continued to release steadily, the consumption of gold jewelry such as hard gold and Gufa gold increased strongly, and the sales of gold bars and gold coins also maintained steady growth, which was significantly higher than the level before the epidemic. During this period, " China National Gold Group Gold Jewellery Co.Ltd(600916) " and " Beijing Caishikou Department Store Co.Ltd(605599) " two key gold selling enterprises successively landed on the A-share market. With the rapid development of China's Shanxi Guoxin Energy Corporation Limited(600617) industry and electronic industry, the demand for industrial gold has also maintained a stable growth.
