Despite the government crackdown on excessive spending, Chinese consumers hit a record gold consumption of 1,176 tons last year, the China Gold Association revealed.

According to the association, last year's gold consumption represented a year-on-year increase of 41.36 percent, a huge increase that happened while the Chinese government issued a strict order against extravagance among government officials.

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Based on the statistics provided by the country's gold association, jewelry-related gold consumption last year reached 716.5 tons, or 42.5 percent higher from a year earlier.

Consumption of gold bars reached 375.7 tons, or 56.6 percent from a year earlier while consumption of gold coins hit 25 tons. Consumption of industrial gold and gold for other uses reached 48.7 tons and 10.4 tons, respectively.

Last year's record gold consumption nearly exhausted the inventory of the country's jewelers. Statistics showed that Chinese middle-aged women were the main gold purchasers in 2013.

In February, the World Gold Council said China has overtaken India as the world's top consumer of physical gold based on China's import of 1,066 metric tons of gold to India's 975 metric tons.

According to experts, China's reputation as the world's largest consumer of gold will be sustained for years, saying it will be hard for India to regain the title.

Sources said the stock of gold in the country is less than half of that in India, which means there is a huge room for growth in China.

China also became the world's largest gold producer in 2007, overtaking South Africa. Last year, it mined a total of 437 tons of the precious metal, experts said.

China's central bank, the People's Bank of China, earlier said it will keep the country's gold reserve at 1,054 tons, flat for the fifth straight year.