GEM Capital Limited Follows the News of the Giant Gold Deposit Found Beneath the Seabed Closely.

Chaoyang District, China, December 18, 2015 (Newswire.com) - A giant deposit holding at least 470 tons of gold has been revealed beneath the seabed of the East China Sea.

The biggest deposit is situated two kilometers below sea level in an area with projected reserves of at least 1,500 tons of gold. It was discovered in the Laizhou city which has the biggest gold reserves in China. More than 2,000 tons of gold has been located there recently.

The first six months of the year, gold production in China soared eight percent year over year to 228.7 tons, further reinforcing China’s dominant position in the sector.

The up-to-date figures come from the China Gold Association and were reported by Chinese media and also show Chinese gold consumption holding sturdy at 561.4 tons, only down marginally compared to the first six months of last year. Stated Suzie Fong of GEM Capital Limited.

Additionally, the surge in Chinese production emphasizes the heavily redrawn map of dominant gold producers. China has in recent years materialized as the top gold producer by an extensive margin and, now, in half a year produces more than it did in a full year just a decade ago.

Earlier this year Beijing scheduled deep seabed mining cooperation in Indian Ocean. China said India was a perfect partner in terms of the progress of deep seabed mining. Both countries are the world’s leading gold buyers.

In July China publicized a nearly 60 percent rise in gold reserves in the past six years, becoming the fifth largest holder of gold in the world. Stated Suzie Fong of GEM Capital Limited.