Shenzhen’s Shuibei district, a major hub for gold and jewellery trading, saw a surge in customers during China’s National Day holiday. Xiao Lei, a gold seller in the district, reported a significant increase in foot traffic, driven by tourists and local buyers seeking discounted jewellery.
The holiday’s extended break attracted shoppers from provinces like Jiangsu and Zhejiang, but most customers were young residents of Guangdong. The drop in gold prices added to the appeal, with the precious metal falling from over 1,000 yuan per gram last week to 945 yuan on Wednesday.
Shuibei, known more for its technology sector, is one of China’s largest wholesale markets for gold. The combination of lower prices and the holiday rush created a busy shopping environment for sellers like Xiao Lei.