China National Gold Group to Compensate Customers Amid Sudden Closure of Franchise

A financial expert has warned that many gold deposit services in mainland China are scams.
China National Gold Group to Compensate Customers Amid Sudden Closure of Franchise
Various gold jewelry at a jewelry shop in Hefei City in eastern China's Anhui Province on November 10, 2009. STR/AFP/Getty Images
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The sudden closure of gold stores has occurred in many places in China as gold prices soar, causing consumers to suffer huge losses and triggering public outrage.

In response, state-owned China National Gold Group issued an announcement last week, stating that it would provide advance payments to consumers affected by the closure of its Beijing store.

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