China has made a significant breakthrough by discovering Asia’s largest undersea gold reserve. According to Chinese media, this major discovery was made near the coast of Yantai in the Laizhou area of Shandong province, where such a massive quantity of underwater gold has been identified for the first time.
Reports indicate that following this discovery, Laizhou’s confirmed gold reserves have reached 3,900 tons, accounting for nearly 26 percent of China’s total national reserves. The Yantai municipal government stated that this remarkable find has placed Laizhou at the top in terms of both gold reserves and production within China, although authorities have not disclosed the exact quantity or estimated value of the newly discovered underwater resource.
Last month, China also announced the discovery of another extremely large but lower-grade gold reserve in the northeastern province of Liaoning, with confirmed deposits reported at 1,444 tons.
China remains the world’s largest producer of mined gold, recording a total output of 377 tons last year. However, in terms of confirmed gold reserves, the country is still behind nations such as South Africa, Australia, and Russia.
Economists note that gold not only serves as a safeguard against currency fluctuations and financial instability but also plays a vital role across several industrial sectors, including electronics and space technology.
