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New ways to make money in China
By Song Jingli and Hao Yan (chinadaily.com.cn)
Updated: 2010-05-14 17:10
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Bullion glitters as realty fizzles out
The record high prices for the yellow metal this month, on the back of strong investor demand, has proved to be a windfall for bullion dealers and pawn shops.
"On average, we receive 30 to 40 telephone calls every day from customers about the prices for gold bars and jewelry, something we have not seen in recent times," said Li Chunhua, marketing director at Beijing Huaxia Pawnshop Co, which operates seven shops in the capital city. [Full Story]
Wenzhou property investors turn to gold
Many Wenzhou residents who used to be keen on investing in real estate nationwide have now looked to gold as a new channel to absorb their cash, the National Business Daily (NBD) reported.
"One of my Wenzhou townsmen bought gold worth 14 million yuan ($2.05 million) the other day," said Tao Xingyi, president of Jinding Group, which focuses on gold investment consultancy and high-end gold trading. Tao was born in Zhejiang province's Wenzhou city, which is famous for entrepreneurship. [Full Story]
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