China uncovers Asia’s largest offshore gold deposit in East China Sea

China has discovered a massive undersea gold reserve off the coast of Laizhou City in Yantai, Shandong Province. It is being reported as Asia's largest undersea gold reserve. The recently found reserve puts the cumulative reserve of Laizhou at more than 3900 tonnes, which roughly accounts for 26 per cent of China's national gold reserve, as reported by the Chinese state media. The discovery makes the Laizhou region the top in both gold reserves and gold production in China. However, the reports do not specify the actual size of the gold reserve.

China's other latest gold discovery

In November, China announced the discovery of the first super-large, low-grade gold deposit of 1,444.49 tonnes in the northeastern province of Liaoning. The Chinese Ministry of Natural Resources described it as the single largest reserve discovered since the founding of the People’s Republic of China in 1949. In the Kunlun Mountains, Xinjiang Uygur Autonomous Region authorities have reported the discovery of gold reserves of more than 1,000 tonnes. China is considered the world's largest producer of Gold ore, with outputs ranging to 377 tonnes. While China is the largest gold producer, in terms of gold reserves, it's behind countries like South Africa and Australia. Since 2021, China has invested heavily in mineral exploration. With rising oil prices, there appears to be a strategic emphasis on gold security.