China’s gold trading hub rattled as second platform faces payment crisis

South China Morning PostCenter-RightEN 1 min read 100% complete by He HuifengFebruary 3, 2026 at 01:02 PM

AI Summary

short article 1 min

A second gold trading platform in Shenzhen, China, Ydd007, is facing a payment crisis after a major platform, JWR, experienced a similar issue, raising concerns about contagion in China's private gold market. Ydd007 reported experiencing "severe runs" due to industry panic and acknowledged a funding shortfall, leading investors to demand immediate payouts. This turmoil follows a significant drop in global gold prices and an investigation into JWR's operations, where unpaid funds may exceed $1.4 billion. Shenzhen's Shuibei area, a major hub for China's gold trade, is at the center of these issues, and its stability is considered a key indicator for the domestic gold industry. Authorities have launched a task force to investigate the abnormal business operations.

Key Entities & Roles

Key Player Opposition Context

Jiangxi 40% Chengdu 40% Guizhou 40% Luohu 40% Shuibei ×370% Ydd007 ×370% JWR ×270% Shenzhen ×480% China ×290%

Keywords

gold trading 90% payment crisis 80% china's private market 70% contagion fears 60% gold prices 50% shenzhen's shuibei 40%

Sentiment Analysis

Very Negative

Score: -0.60

Source Transparency

Source

South China Morning Post

Political Lean

Center-Right (0.50)

Far LeftCenterFar Right

Classification Confidence

90%

Geographic Perspective

China

This article was automatically classified using rule-based analysis. The political bias score ranges from -1 (far left) to +1 (far right).

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gold trading payment crisis china's private market contagion fears gold prices shenzhen's shuibei

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