Young Chinese people buy up one-gram gold beans in popular newfound trend for managing personal wealth

In recent days, buying a gold bean on a monthly basis has become a newfound trend for young Chinese people to manage their personal wealth. One tiny gold bean, which weighs only one gram, is easily affordable. Industry insiders say that by buying these gold beans on a regular basis, young people are actually making a long-term investment, which is able to help them cushion any risks brought about by fluctuations in gold prices.

(Screenshot from CCTV.com)

In addition to accumulating these one-gram gold beans, other products made with gold, such as those inspired by the tiger, the zodiac sign for 2022, and new-style gold ornaments that are both fashionable and classic in design, are also popular gold products among young Chinese consumers.

Since December 2021, the number of orders for gold products has increased nearly 80 percent year-on-year, statistics from an e-commerce platform indicated. Chinese consumers born in the 1980s, the 1990s, and after 1995 respectively purchased about 72 percent, 80 percent, and 105 percent more gold ornaments compared with the same period a year ago.

Younger generations of consumers in China, who have a relatively more up-to-date and pragmatic attitude toward managing their own personal wealth, are gradually becoming a major force in the country’s gold consumption.

Growing up in an environment where the influence of the Internet can be felt everywhere, young people nowadays have a broader vision and comparatively more skills when it comes to managing their own wealth. This fact enables them to access diversified channels for wealth management and become rational actors in managing their individual wealth.

Instead of having to learn professional investment knowledge, young people in China find that buying gold beans can more easily arouse their enthusiasm for managing their amassed wealth. This suitable way for managing personal wealth allows young people to increase their capabilities to fend off risks and enhances their ability to tell right from wrong, thus providing a better guarantee for the sake of their own lives.