Some gold merchants in Shuibei, Shenzhen have run away with the money overnight, leaving their stores empty.

Recently, the largest gold and jewelry distribution center in China - Shuibei in Shenzhen, was exposed to have a gold raw material supplier "run away with the goods", taking away a huge amount of money. On September 13th, several gold merchants reported to the Shenzhen police that after paying a large amount of advance payment to "Yuebaoxin", the company's leader disappeared. Reporters learned from surrounding merchants that on September 12th, the store was still operating normally, but on the morning of September 13th, it was suddenly empty. According to Tianyancha information, Yuebaoxin, formally known as "Shenzhen Yuebaoxin Precious Metals Co., Ltd", was established in August 2023. As a large-scale intermediary of gold raw materials in the Shuibei market, Yuebaoxin provides gold raw materials to downstream processing merchants. In addition, many out-of-town merchants would send their recycled gold to Yuebaoxin for settlement. Subsequently, the reporter tried calling the contact number provided by Tianyancha for Yuebaoxin several times, but no one answered. After Yuebaoxin closed, there were rumors in the market that "there is a wave of merchants fleeing in the Shuibei market." A field investigation by reporters found that there was no such "wave of merchants fleeing" in the Shuibei market, and some gold merchants issued announcements for liquidation. In addition, reporters interviewed Zhang Wenyang, the secretary general of the Shenzhen Gold and Jewelry Industry Association, who stated that the online rumors contain exaggerations and inaccuracies.