China National Gold (SH:600916) Jin Tou Wang·2025-07-31 07:03Group 1 - The World Gold Council reported that in Q2, China's gold ETF inflows reached 464 billion yuan (approximately 65 billion USD, 61 tons), marking the strongest quarterly performance in history [1] - In the first half of the year, total inflows into China's gold ETFs amounted to 631 billion yuan (about 88 billion USD). The total assets under management (AUM) for gold ETFs in China more than doubled, increasing by 116% to reach 1,525 billion yuan (213 billion USD) by the end of June [1] - Total holdings surged by 74% to 200 tons, with both AUM and total holdings hitting record highs at the end of the month [1] Group 2 - In the first half of 2025, China's gold consumption was 505.205 tons, reflecting a year-on-year decline of 3.54%. Gold jewelry consumption dropped significantly by 26% to 199.826 tons, while gold bars and coins saw a growth of 23.69% to 264.242 tons [2] - Industrial and other gold usage increased by 2.59% to 41.137 tons [2] Group 3 - In the first half of 2025, domestic gold production was 179.083 tons, a slight decrease of 0.31% compared to the same period in 2024. Gold mine production accounted for 139.413 tons, while by-product gold from non-ferrous metals contributed 39.670 tons [1] - Gold imports for the same period reached 76.678 tons, representing a year-on-year increase of 2.29%. Overall, including imports, total gold production in the country was 252.761 tons, showing a slight growth of 0.44% year-on-year [1]