Biggest gold fraud in China: 83 tons of gold bars used as loan collateral turned out to be copper
World | July 02, 2020 19:09 ISTThe 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.