China produced 372 tonnes of gold in 2022, an increase of 43 tonnes or 13.1% compared to the previous year, according to data from the China Gold Association (CGA). Gold consumption in China totalled 1,002 tonnes last year, a decrease of 10.6% from the previous year. Consumption of gold jewellery dropped 8% year on year to 654.3 tonnes, while gold bar and coin investment decreased 17.2% from 2021 to 259 tonnes.
Increased gold production can have a significant impact on the environment, as the mining process involves the use of large amounts of water and energy, as well as the potential for pollution and deforestation. The use of heavy machinery and chemicals in the mining process can also harm local wildlife and ecosystems. The decrease in gold consumption could therefore potentially reduce the environmental impact of the gold industry in China.