China has identified its first-ever offshore gold reserve, which is also the largest in Asia. The discovery was made off the coast of Laizhou in Yantai City, Shandong Province.

According to the South China Morning Post, this new finding has raised Laizhou’s proven gold reserves to more than 3,900 tons, equivalent to roughly 137 million ounces of gold.

This volume represents around 26% of China’s total national gold reserves, positioning Laizhou as the country’s leading region in both gold reserves and production.

However, authorities have not yet disclosed the exact size of the offshore gold deposit. Earlier, in November, the Chinese government announced the discovery of a super-large, low-grade gold deposit totaling 1,444 tons in Liaoning Province in northeastern China.

China’s Ministry of Natural Resources described the Liaoning discovery as the largest single gold reserve found since the founding of the People’s Republic of China in 1949.

Meanwhile, local authorities in the Kunlun Mountains of the Xinjiang Uygur Autonomous Region also reported the discovery of gold reserves exceeding 1,000 tons.

These major discoveries further reinforce China’s position as the world’s largest gold ore producer.

China’s annual gold output stands at approximately 377 tons, although in terms of total national gold reserves, the country still trails behind South Africa and Australia.