Beijing. Large reserves of gold have been found in Hunan province of China. The estimated value of this huge reserve is hundreds of billions of rupees. Finding gold reserves will provide great support to China’s crumbling economy. According to sources, there is a gold mine named Wangu in Pingxiang County of Hunan Province. More than 40 gold veins have been discovered inside this gold mine. This mine is located at a depth of less than 2,000 meters below ground. According to the Hunan Provincial Geological Institute, total gold reserves in the main area of the mine are now up to 300.2 tonnes. At the same time, there is more than 1,000 tons of gold in the newly discovered reserves, the total value of which is estimated at about 600 billion yuan (about seven lakh crore rupees). Liu Yongjun, vice president of Hunan Provincial Geological Institute, called it a major success in China’s mineral exploration strategy. The Wanghu mine has already been one of the most important gold mining centers in China. Since 2020, the provincial government has invested more than 100 million yuan (about Rs 115 crore) in mineral exploration in this area. In recent years, there has been a surge in demand for gold in China due to economic uncertainties. However, this demand has declined slightly due to the central bank stopping the purchase of gold in May and the weakness of the yuan. Gold prices have also declined. In the retail market, jewelery from famous companies like Chow Tai Fook and Chow Sang Sang is now being sold at 720 yuan (about Rs 8,300) per gram, which was earlier 820 yuan. China is focusing on increasing domestic reserves of strategic resources under its 2021-2025 development plan. Investment in mineral exploration has increased by eight percent year-on-year to 110.5 billion yuan (about Rs 1.27 lakh crore) in 2022.