Editor’s Note
The recent release of the “Specification for Gold Trade-in Business Services” marks a significant step toward standardizing and professionalizing this sector. This new standard aims to enhance transparency and consumer protection by establishing clear requirements for enterprises, personnel, and operations.
According to Xinhua News Agency, the group standard “Specification for Gold Trade-in Business Services” was recently officially released. This standard provides comprehensive regulations for gold trade-in businesses, covering aspects such as enterprise qualifications and management, service personnel, and venue and equipment requirements. The introduction of this standard marks a new stage of standardized, professional, and transparent development for the gold trade-in business.
The standard clearly stipulates that enterprises engaged in gold trade-in business must possess legal qualifications, pay taxes according to law, and fulfill anti-money laundering obligations. Employees must pass professional training before they can work. For the gold inspection process, a system of “full monitoring + customer presence” must be implemented. Destructive testing requires prior consumer consent, and test results must be truthfully documented in a certificate that includes information such as gold content, weight, loss, and discounted amount. During consultation, information such as the acceptance criteria for old gold, service procedures, and fee items must be proactively disclosed.
Gold trade-in is an important form of gold and jewelry consumption in China. In the current high gold price market environment, demand for trade-in services from both businesses and consumers has surged. However, due to a long-term lack of unified industry standards, issues such as ambiguous pricing, non-transparent gold inspection, and inconsistent loss standards have existed.
She elaborated on three main objectives: First, by clarifying corporate obligations and responsibilities, it empowers consumers with rights to information, supervision, and convenient complaint filing, thereby strengthening consumer protection. Second, it aims to create a closed-loop circulation for gold from “old gold recycling” to “new product sales,” injecting new momentum into gold consumption. Third, it defines standards for enterprises, personnel, and processes to promote the transformation of the gold and jewelry industry towards standardization and specialization through regulated services.
Furthermore, the standard reinforces compliance requirements for anti-money laundering and information security, contributing to the industry’s healthy and sustainable development. As the next step, the China Gold Association will promote the implementation of the standard, conduct publicity and training, continuously improve the industry governance system, and foster a win-win situation for compliant business operations, assured consumer spending, and healthy industry development. (Reporter Ren Jun)