STORY: China's young generation powering gold rush
SHOOTING TIME: Feb. 8, 2024
DATELINE: Feb. 12, 2024
LENGTH: 00:02:05
LOCATION: JINAN, China
CATEGORY: ECONOMY/SOCIETY

SHOTLIST:
1. various of people buying gold products at gold stores
2. SOUNDBITE 1 (Chinese): HU MEI, Regional manager of a gold store in Guizhou Province
3. SOUNDBITE 2 (Chinese): DU XUAN, Customer
4. SOUNDBITE 3 (Chinese): XIE XIAOXIAN, Customer
5. SOUNDBITE 4 (Chinese): XIA LIUXIA, Head of a gold shop in Shandong Province
6. SOUNDBITE 5 (Chinese): LIU HU, Director of a jewelry company under Shandong Gold Group Co. Ltd.

STORYLINE:

China has witnessed a thriving gold market recently. According to China Gold Association, in 2023, the national gold consumption reached nearly 1,090 tonnes, an increase of 8.78 percent year on year.

According to the association, in 2023, the young population aged between 25 and 34 became the main force of gold consumption, with their proportion up from 16 percent to 59 percent.

Before the Spring Festival holiday, gold jewelry orders had shot up phenomenally across the country, particularly among the youth.

SOUNDBITE 1 (Chinese): HU MEI, Regional manager of a gold store in Guizhou Province
"Many of our customers buy gold for gifting as well as for personal wear, so there is a considerable demand for gold. Our sales data show an increase of about 20 percent compared to the same period in previous years."

SOUNDBITE 2 (Chinese): DU XUAN, Customer
"I have a bracelet, and I'm thinking of buying two small gold pendants to create a combination. I think this might make it look more beautiful."
 
Besides fashion identity, young Chinese consumers choose gold jewelry also for investment reasons.
 
SOUNDBITE 3 (Chinese): XIE XIAOXIAN, Customer
"We want to buy gold jewelry that is made of pure gold and sold by the gram, such as couple rings, necklaces, and bracelets. Nowadays, young people are quite fond of gold products."

In recent years, China Chic, which features fancy designs mixed with traditional elements, has emerged as a popular trend. 

Jewelers are joining the trend and designing jewelry products bearing traditional Chinese cultural elements to satisfy young consumers' aesthetics needs.

SOUNDBITE 4 (Chinese): XIA LIUXIA, Head of a gold shop in Shandong Province
"Speaking of the overall trend, our gold sales are quite good. Firstly, gold holds its value well, and secondly, the craftsmanship of gold jewelry is now very much favored by young people, with some designs being very fashionable."
 
SOUNDBITE 5 (Chinese): LIU HU, Director of a jewelry company under Shandong Gold Group Co. Ltd.
"Next, we will launch a series of cultural and creative jewelry products, introducing more products that go with the aesthetic taste of young people to better serve our young consumers."
 
Xinhua News Agency correspondents reporting from Jinan, China.
(XHTV)