Gold Price in China Today

Gold jewellery sold in China is governed by the national standard GB 11887, which requires every piece to carry a fineness stamp — most commonly 999 or 999.9 for 24-karat gold — alongside a registered manufacturer's mark. Unlike many Western markets, hallmarking itself is voluntary in China, but pieces from established retailers typically comply with GB 11887 as standard practice, and 999-fine 24K gold remains the dominant jewellery purity, unlike the 18K/14K standards common in Western markets.

China's gold trade is centred on the Shanghai Gold Exchange (SGE), the world's largest physical gold exchange by volume, where members withdraw physical bars and coins for onward sale to jewellers, banks and retail dealers. A tax-rule change effective November 1, 2025 (running through December 31, 2027) cut the VAT input-deduction SGE members can claim on gold withdrawn for jewellery-making from 13% to 6%, while gold withdrawn for investment resale kept the full 13% deduction -- raising the effective cost of jewellery-purpose gold relative to investment bars and coins.

Because the SGE reform specifically raised costs on the jewellery side of the market, a retail jewellery quote in China today embeds a larger tax-related premium over the metal value than an investment bar or coin bought from an SGE member does. Confirm whether a quoted price is jewellery (999-fine, per this page's own market context) or an investment product before comparing it against KmalServico's live reference, since the two now carry meaningfully different tax treatment.

Gold bought directly from Shanghai Gold Exchange members for investment purposes -- bars and coins -- continues to carry the exchange's standard 13% VAT input-deduction treatment. Gold withdrawn by SGE members for jewellery manufacturing is limited to a 6% deduction as of the November 2025 reform, a cost jewellery retailers are expected to pass through to consumers rather than absorb.