The World Gold Council said Thursday (Feb 16th) China's gold demand last year reached 769.8 tonnes, representing a rise of 20 percent year-on-year.

The leap was a result of increasing need for jewelry and investment in the world's second-largest economy, according to a report released by the council.

In the investment sector, China's 2011 gold demand stood at 258.9 tonnes, worth 84.5 billion yuan ($13.4 billion), up 69 percent year-on-year.

Meanwhile, the country's demand for jewelry grew in every quarter last year and became the largest single jewelry market worldwide for the second half of 2011, said the report.

It also said global demand for gold in 2011 hit 4,067.1 tonnes, worth an estimated $205.5 billion, the first time that global demand has exceeded $200 billion in value. (source: chinadaily)

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