Maybe the following info is putting this measure in a proper context. China's demand for silver keeps on rising, while its domestic production is falling due to the declining demand for base metals like zinc and lead. Most of China's silver is produced as a by-product.

"Meanwhile, Barclays projected a steady increase in silver import demand averaging 7.3% annually over the next few years, similar to the average growth rate of 7.8% from between 2008-14.

Silver is mined in China mainly as a by-product of lead and zinc operations. Since growth in the latter are expected to slow to between 3% and 2.8% per annum, respectively, Barclays said growth in China’s silver output is set to decline to 3% from 2014-2020. Meanwhile, silver demand is seen rising by 4.6% annually, the bank said, although this would be slower than 6% per annum from 2008 to 2014."

http://www.kitco.com/news/2015-09-02/Barclays-Foresees-Strong-Chinese-Imports-Of-Precious-Metals-Over-Next-Several-Years.html