Remodeling gold jewelry gets popular in China amid surging gold prices

⁠⁠⁠⁠⁠⁠⁠Frustrated by sharply rising gold prices during the Spring Festival shopping rush, many cautious Chinese gold buyers are opting to redesign their old jewelry instead of purchasing expensive finished gold products.

Some gold jewelers in Kunming City, southwest China's Yunnan Province have reported a notable decrease in customer traffic during the Spring Festival holiday, traditionally the peak season for gold jewelry sales. 

The decline has come as a result of high prices of the precious metal, according to one of the jewelers.

"In the period around the Spring Festival holiday, the price of gold has increased by approximately 40 yuan (about 5.5 U.S. dollars) per gram. Customers' first reaction upon entering the store is that the gold prices are excessively high. So, the foot traffic has decreased by an estimated 40 to 50 percent," Gao Shunyan, a saleswoman, said.

Many staff members of gold retailers believe that consumers' wait-and-see attitude is fed by the uncertainty about where gold prices will go next.

Meanwhile, a trend of redesigning old gold jewelry and customizing new pieces has been emerging in China.

At a jewelry store located in Nanjing, east China's Jiangsu Province, five to six customers arrived with their old gold jewelry for redesign and customization as soon as the store opened in the morning. The three goldsmiths there were busy fulfilling their requests.   Without changing the weight, the processing fee for remodeling jewelry is only 10 to 15 yuan (roughly 1.4 to 2 U.S. dollars) per gram. Mr. Qing brought an old gold bracelet and also bought a gold bar to create a new bracelet for his wife. The goldsmith spent over two hours completing the task.

According to Qing, cost-effectiveness and personalization are the reasons why many consumers have chosen to redesign their old jewelry.

"The jewelry brands' products sold at stores are quite expensive. It seems that they all are sold at over 800 yuan (around 110 U.S. dollars) per gram now. I bought a gold bar for processing, which is relatively more cost-effective," Qing said.

Remodeling gold jewelry gets popular in China amid surging gold prices

China's science and technology sector made rapid progress in 2025, with the country's scientific and technological strength reaching a new level and a host of achievements emerging, said Yin Hejun, minister of science and technology on Thursday.

During a group interview at the Great Hall of the People in Beijing following the opening meeting of the fourth session of the 14th National People's Congress (NPC), Yin offered an overview of China's sci-tech development and achievements in 2025.

"China's sci-tech sector has witnessed rapid development, with its scientific and technological strength ascending to new heights. The country has climbed to the 10th position in the global innovation ranking. China's gross domestic research and development spending in 2025 exceeded 3.92 trillion yuan (about 568 billion U.S. dollars), with the spending intensity reaching 2.8 percent. Basic research investment approached 280 billion yuan (about 41 billion U.S. dollars), accounting for 7.08 percent of the total -- topping 7 percent for the first time and hitting a historic high," said the minister.

Yin also highlighted the bounty of breakthroughs in China's sci-tech sector over the past year.

"A flourishing array of scientific and technological achievements has emerged. Humanoid robots dazzled audiences at the 2026 Spring Festival Gala, evolving from performing Yangge folk dance and twirling handkerchiefs last year to turning somersaults and starring in comedy skits this year, showcasing a versatile repertoire of skills. China's open-source large language models now lead the world, and new breakthroughs have been made in chip research and development. Moreover, and innovative drugs have seen robust growth. A total of 76 innovative drugs were approved last year, with cross-border out-licensing deals exceeding 130 billion U.S. dollars. Technology has empowered industries across the board, significantly improving people's quality of life," he said.

The fourth session of the 14th NPC kicked off on Thursday and is set to conclude on March 12.

China's scientific and technological strength reaches a new level in 2025: minister