China finds Asia's 'largest' undersea gold deposit 

China has found an undersea gold deposit which it claims to be the largest in Asia, following the recent discoveries of other sources of the precious metal this year.

The discovery, located off the coast of Laizhou in Yantai, Shandong Province, has increased Laizhou's verified gold reserves to more than 3,900 tonnes (137.57 million ounces), accounting for roughly 26 per cent of China's total, according to the South China Morning Post.

Officials did not disclose the size of the newly discovered undersea deposit.

Last month, authorities announced the country's first super-large, low-grade gold deposit in Liaoning province, with confirmed reserves of 1,444.49 tonnes (50.95 million ounces).