Chinese Gold Jewelry Research Paper

Considering various valuable jewelry categories, gold jewelry is still the mainstream product thanks to Chinese traditional consumer values. China has a long history of producing and using gold jewelry. From the ancient time, gold jewelry has been regarded as a necessity in marriages. It is a custom and tradition in Chinese culture that can hardly change. Besides, Chinese gold jewelry consumers are different from the Western ones. In western countries, individuals tend to buy gold jewelry for decoration and invest in gold bullion as appreciation and as a means of saving. In comparison, consumers in China and other Asia countries, such India buy gold jewelry mainly to satisfy three purposes: for decoration; as a means of stored value; for appreciation (Zhang 2013). Thus, as a means of maintaining the value of wealth, when there comes devaluation of the China Yuan and the political instability, China, the world's fastest growing gold market, will increase its demand for

As shown in the line chart, which was made by mean value, the abscissa axis is the monthly income of respondents and the ordinate axis is about the yearly spending on luxury products. To be more specific, according to the selected data, when studying the respondents with salary under 5000RMB each month, most of them (53.13%) who the researcher selected to represent this income class, chose to spend 10000-50000RMB yearly. Similarly, the researcher found that 56.67% of respondents who monthly earn 5000-10000RMB, 48.19% of respondents who monthly earn 10000-30000RMB as well as 80% of respondents who monthly earn 30000-80000RMB all chose yearly spending of 10000-50000RMB, which is shown in the line graph. Then, 40% of respondents who earn 80000-150000RMB each month who represent the high-income class tend to spend more in luxury goods, which is 50000-100000RMB each