jewelry consumption is the main gold application field in China
gold is a special precious metal with dual attributes of commodity and finance, but since it was discovered by the world, it has been used for jewelry production. Specifically, in 2021, China's gold downstream consumption field, jewelry consumption is China's main gold consumption demand. In 2021, China's gold jewelry consumption was 711.3 tons, an increase of 45% year-on-year, Accounting for more than 60% of China's gold consumption in 2021; Followed by gold bars and coins and industrial and other gold
supply side: gold products are more favored by sellers
from the perspective of the downstream consumption of gold jewelry, first of all, from the perspective of the seller, according to the data of China Gold News, gold products dominate the inventory of Chinese jewelry retailers. According to relevant data, in terms of value, gold products accounted for 45% of the total inventory of Chinese jewelry retailers in 2020, ranking first in all categories. In 2021, this proportion will further rise to 52%. It can be seen that gold jewelry is more favored by sellers
from the perspective of segmented products, according to statistics, in 2021, among all kinds of gold ornaments in the inventory of gold retailers, the proportion of shop gold ornaments is still the highest, more than 30%, followed by hard gold products and Gufa gold products. Among them, Gufa gold jewelry has been more popular in recent years. In 2020, it only ranked fourth in the gold jewelry category, and in 2021, it ranked third
demand side: the buyer's consumption demand has warmed up
from the perspective of the buyer's consumer, China's gold jewelry consumption has fluctuated since 2016. In 2020, affected by the epidemic, China's gold jewelry consumption decreased to 490.6 tons. In 2021, with the gradual control of the epidemic and the rapid recovery of the domestic economy, China's gold jewelry consumption significantly increased to 711.29 tons, a year-on-year increase of 45%
from the perspective of segmented products, among the 490. Tons of gold jewelry consumed in 2020, the total retail sales of traditional gold jewelry was 348.01 tons, and the total annual retail income of such products was 169.874 billion yuan, of which traditional gold jewelry accounted for 70.94% of the total consumption of gold jewelry in China; The second is Gufa gold jewelry. In 2020, the total retail sales of Gufa gold jewelry in China was 92.23 tons, an increase of 26% over 2019, accounting for 18.80% of the total consumption of gold jewelry in China. The total annual retail revenue of this kind of products was 54.243 billion yuan, an increase of 67.01% over 2019
in general, China is a big gold consumer. Among them, gold jewelry is the main downstream area of gold consumption in China, accounting for more than 60% of China's gold consumption in 2021. From the perspective of the downstream gold jewelry market, the current trading sellers prefer gold jewelry more than other quality jewelry such as diamonds and Jadeites; The consumer demand of buyers in 2021 has also recovered, and Gufa gold jewelry is the most popular category of gold jewelry in the past two years
- the above data is from the analysis report on China's gold industry market foresight and investment strategic planning by the forward looking Industry Research Institute
In the second quarter of 2013, the total demand for gold ornaments increased by 37% from 420 tons, rising from 421 tons in the same period of the year to 576 tons, reaching the highest level since the third quarter of 2008. Among them, China's demand increased by 54% year-on-year, while India's increased by 51%. China and India account for nearly 60% of the global demand for gold ornaments; In terms of gold bars and coins, China and India account for about half of the world's total during the sub credit crisis in 2008, the central government implemented 4 trillion yuan of construction projects to maintain economic growth. In addition, in view of the risk of rapid appreciation of RMB, the quantitative easing policy of RMB was implemented, which led to the emergence of moderate inflation. In order to relieve the pressure of domestic social and economic slowdown, the central government introduced a series of policies to increase people's income and stimulate domestic demand, which indirectly led to a sharp rise in wages in 2011, 2012 and 2013, and also stimulated the consumption of gold products. However, enterprises, especially small and medium-sized enterprises, began to complain, and the business environment further deteriorated in 2014, the central government has set the keynote for the year of comprehensively deepening economic system reform, and entered the shifting period of economic growth. Reform may not benefit short-term economic growth. China's economy will inevitably experience a painful period of transformation, and economic growth will also slow down. GDP may fall to 7% or even lower. The central government will not rely on large-scale loans to stimulate economic growth
jewelry consumption is the main gold application field in China
gold is a special precious metal with dual attributes of commodity and finance, but since it was discovered by the world, it has been used for jewelry production. Specifically, in 2021, China's gold downstream consumption field, jewelry consumption is China's main gold consumption demand. In 2021, China's gold jewelry consumption was 711.3 tons, an increase of 45% year-on-year, Accounting for more than 60% of China's gold consumption in 2021; Followed by gold bars and coins and industrial and other gold
supply side: gold products are more favored by sellers
from the perspective of the downstream consumption of gold jewelry, first of all, from the perspective of the seller, according to the data of China Gold News, gold products dominate the inventory of Chinese jewelry retailers. According to relevant data, in terms of value, gold products accounted for 45% of the total inventory of Chinese jewelry retailers in 2020, ranking first in all categories. In 2021, this proportion will further rise to 52%. It can be seen that gold jewelry is more favored by sellers
from the perspective of segmented products, according to statistics, in 2021, among all kinds of gold ornaments in the inventory of gold retailers, the proportion of shop gold ornaments is still the highest, more than 30%, followed by hard gold products and Gufa gold products. Among them, Gufa gold jewelry has been more popular in recent years. In 2020, it only ranked fourth in the gold jewelry category, and in 2021, it ranked third
demand side: the buyer's consumption demand has warmed up
from the perspective of the buyer's consumer, China's gold jewelry consumption has fluctuated since 2016. In 2020, affected by the epidemic, China's gold jewelry consumption decreased to 490.6 tons. In 2021, with the gradual control of the epidemic and the rapid recovery of the domestic economy, China's gold jewelry consumption significantly increased to 711.29 tons, a year-on-year increase of 45%
from the perspective of segmented products, among the 490. Tons of gold jewelry consumed in 2020, the total retail sales of traditional gold jewelry was 348.01 tons, and the total annual retail income of such products was 169.874 billion yuan, of which traditional gold jewelry accounted for 70.94% of the total consumption of gold jewelry in China; The second is Gufa gold jewelry. In 2020, the total retail sales of Gufa gold jewelry in China was 92.23 tons, an increase of 26% over 2019, accounting for 18.80% of the total consumption of gold jewelry in China. The total annual retail revenue of this kind of products was 54.243 billion yuan, an increase of 67.01% over 2019
in general, China is a big gold consumer. Among them, gold jewelry is the main downstream area of gold consumption in China, accounting for more than 60% of China's gold consumption in 2021. From the perspective of the downstream gold jewelry market, the current trading sellers prefer gold jewelry more than other quality jewelry such as diamonds and Jadeites; The consumer demand of buyers in 2021 has also recovered, and Gufa gold jewelry is the most popular category of gold jewelry in the past two years
- the above data is from the analysis report on China's gold industry market foresight and investment strategic planning by the forward looking Industry Research Institute
In the second quarter of 2013, the total demand for gold ornaments increased by 37% from 420 tons, rising from 421 tons in the same period of the year to 576 tons, reaching the highest level since the third quarter of 2008. Among them, China's demand increased by 54% year-on-year, while India's increased by 51%. China and India account for nearly 60% of the global demand for gold ornaments; In terms of gold bars and coins, China and India account for about half of the world's total
during the sub credit crisis in 2008, the central government implemented 4 trillion yuan of construction projects to maintain economic growth. In addition, in view of the risk of rapid appreciation of RMB, the quantitative easing policy of RMB was implemented, which led to the emergence of moderate inflation. In order to relieve the pressure of domestic social and economic slowdown, the central government introduced a series of policies to increase people's income and stimulate domestic demand, which indirectly led to a sharp rise in wages in 2011, 2012 and 2013, and also stimulated the consumption of gold products. However, enterprises, especially small and medium-sized enterprises, began to complain, and the business environment further deteriorated
in 2014, the central government has set the keynote for the year of comprehensively deepening economic system reform, and entered the shifting period of economic growth. Reform may not benefit short-term economic growth. China's economy will inevitably experience a painful period of transformation, and economic growth will also slow down. GDP may fall to 7% or even lower. The central government will not rely on large-scale loans to stimulate economic growth