A salesperson poses with Heritage Gold jewellery at jeweller Chow Tai Fook’s retail store in Shanghai, China August 18, 2021.
A strengthening economy and improving consumer spending are helping sales.
Part of heritage gold jewellery’s appeal, especially among young consumers, reflects a desire to be patriotic amid a backlash against Western apparel brands in China that expressed concern over allegations of rights abuses in the Chinese region of Xinjiang.
Gao, a 29-year-old sales executive from eastern Jiangsu province, who only wanted to be identified by a single name, says she has spent 30,000 yuan this year on a bracelet and hairpin, featuring filigree patterns, for everyday use.
“I really like Chinese culture and prefer products with Chinese history.
In anticipation of longer-term demand, gold jewellery manufacturers are stepping up investment in heritage gold.
According to industry and market research consultancy Beijing Zhiyan Kexin Consulting, the market for heritage gold in China increased tenfold between 2017 and 2019, and is seen reaching nearly 100 billion yuan by 2024.
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