usa.chinadaily.com.cn/business/2014-06/27/content_17620653.htm

China National Gold Group Corporation, the country’s largest gold producer, established a subsidiary for industrial research institute on Friday, aiming at shifting the growth drive from investment and scale expansion to innovation.

Song Xin, general manager of the company, said the gold industry is facing challenges including limited resources, technology obstacles and rising costs, which requires the company to make greater efforts on innovation to realize sales and profit growth.

He said the company will extend the products chain through technology upgrading, seeking for more opportunities in the market.

Meanwhile, the company will attach more attention on environmental protection.

China is the largest gold producer with an output of around 428 metric tons in 2013.

China National Gold Group produced 39.4tons in 2013, accounting for around 9 percent of the nation’s total output.