New generation's tastes driving change

The Chinese gold industry is struggling to build strong brand images that appeal to younger consumers, as the industry's new target market now sees jewelry primarily as a fashion statement, not an investment.

China is the world's largest gold accessories consumer, accounting for 30 percent of the global market, according to a World Gold Council report. It is also the only market in the world where most consumers prefer jewelry made with 99.9 percent gold content, because its value can be preserved.

But, the industry's target customers are becoming younger and younger, and the new generation has alternative tastes, which is driving the market in a different direction.