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Chinese jeweler has gold, but no cash

China to Watch Essencial

The complete published Essential edition · 7 news items.

Editorial illustration: Chinese jeweler has gold, but no cash
Conceptual illustration for this edition, not a documentary photograph. Editorial illustration · China to Watch · AI-generated

Qianye Jewelry, a Chinese jeweler founded in 2001, has 1.535 billion yuan in jewelry in stock, 96.56% of everything it owns, and only 933.7 thousand yuan in cash. On the…

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