China has discovered the largest offshore gold deposit in Asia, located beneath the seabed off Laizhou, a coastal district in the eastern province of Shandong. The find has been hailed as the most substantial submarine gold reserve on the continent, marking a significant milestone in China’s mining and resource exploration efforts.
According to the South China Morning Post, this discovery increases Laizhou’s verified gold reserves to over 3,900 tonnes (approximately 137.57 million ounces), representing nearly 26% of China’s total gold reserves. The Ministry of Natural Resources has described it as the largest single gold deposit identified in the country since the founding of the People’s Republic in 1949, highlighting its historic significance.
In addition to this offshore discovery, authorities reported earlier this year a sizeable gold reserve in the Kunlun Mountains near the western border of the Xinjiang Uyghur Autonomous Region, estimated at over 1,000 tonnes (35.27 million ounces). This complements Shandong province’s ongoing exploration initiatives.
Back in November 2023, Shandong provincial officials stated that they had identified approximately one-quarter of China’s national gold reserves, including more than 3,500 tonnes (123.46 million ounces) on the Jiaodong Peninsula. This region is now recognised as the third-largest gold mining area globally, underlining China’s growing prominence in the world gold market.
Moreover, the China Gold Association announced last month that Liaoning province had verified the country’s first ultra-large, low-grade gold deposit, amounting to 1,444.49 tonnes (50.95 million ounces). China remains the world’s largest gold producer, with annual production reaching 377 tonnes (13.3 million ounces) last year.
Despite its leadership in gold production, China still lags behind countries such as South Africa, Australia, and Russia in terms of proven reserves. Analysts suggest that these new discoveries could significantly bolster China’s domestic gold stockpile, strengthening both its strategic resources and influence in global mining markets.
Table: Major Gold Reserves in China
| Location | Gold Reserves (Tonnes) | Gold Reserves (Million Ounces) | Notes |
|---|---|---|---|
| Laizhou, Shandong (offshore) | 3,900+ | 137.57 | Asia’s largest offshore gold deposit |
| Kunlun Mountains, Xinjiang | 1,000+ | 35.27 | Western border discovery |
| Jiaodong Peninsula, Shandong | 3,500+ | 123.46 | Third-largest gold mining region worldwide |
| Liaoning Province (low-grade) | 1,444.49 | 50.95 | First ultra-large low-grade deposit |
With these developments, China is steadily expanding its gold reserves, enhancing its domestic and international economic influence while strengthening strategic resource security.