China's biggest gold fraud, 4% of its reserves may be fake: Report

The 83 tons of purportedly pure gold stored in creditors' coffers by Kingold as of June, backing the 16 billion yuan of loans, would be equivalent to 22 per cent of China's annual gold production and 4.2 per cent of the state gold reserve as of 2019.

First published here: China's biggest gold fraud, 4% of its reserves may be fake: Report