01:20

China: Chinese gold processors innovate product lines to offset price pressure

Content Partner Cover Image
Content Partner Profile Image
Uploaded by a Newsflare content partner

Buy video

Storyline: Chinese gold processors innovate product lines to offset price pressure [Voice_over] China's gold processing industry is heating-up as the so-called "Golden September and Silver October" peak sales season kicks-off. At a manufacturing plant in Shenzhen's Longgang District, workers are racing to complete a large order for gold jewelry. The company's manager says they're on a tight deadline to meet the delivery schedule, so they're staffed around-the-clock. [Sound_bite] Guo Junjie, general manager, production center, jewelry company: "Since mid-August, the entire industry has entered the peak consumption season. Our orders in August have increased by 30 percent to 50 percent compared to May through July." [Voice_over] Still, the sustained rise in gold prices this year continues to put pressure on gold processors, constantly squeezing their profit margins. To tackle the challenge, gold processing companies are innovating their jewelry lines by launching gold pieces with high added value, rich cultural attributes, and superior craftsmanship. [Sound_bite] Gao Feng, assistant general manager, jewelry company: "The new products are expected to hit the market before the end of this year, and their profit margin is projected to be 10 percent to 20 percent higher compared to regular products." [Voice_over] According to data from the China Gold Association, gold consumption in China reached over 500 tones in the first half of the year, down roughly 3.6 percent year on year. [Restrictions : No access Chinese mainland]

Categories

Tags

From the blog

Stories not Stock: 3 Reasons Why You Should Use UGC Instead of Stock Video

Video content is an essential part of a brand’s marketing strategy, and while stock footage has been a reliable go-to in the past, forward-thinking companies are looking to user-generated content for their video needs.

View post
Content Partner Cover Image
Content Partner Profile Image
Uploaded by a Newsflare content partner

Buy video