China has discovered its first-ever undersea gold deposit, marking the largest such find in Asia and representing a significant step in the country’s efforts to expand its reserves of precious metals. The deposit was located off the coast of Laizhou in Yantai, Shandong province, increasing the city’s total proven gold reserves to over 3,900 tonnes, which accounts for approximately 26 percent of China’s overall gold reserves. This achievement positions Laizhou as the leading city in the country in terms of both gold reserves and production.
The discovery was announced during a government conference reviewing the progress of the current five-year plan and discussing future objectives for resource development. While officials have confirmed the significance of the find, they have not disclosed the exact size of the newly identified offshore deposit. The undersea gold discovery underscores China’s intensified focus on securing strategic mineral resources and strengthening its position in the global precious metals market.
