China's old mining towns lure tourists with gold rush

A surge in gold prices is drawing tourists to China’s old mining towns where they can get a taste of prospecting for themselves.

Transcript

00:00As gold prices hang on to highs, tourists are flocking to Jiayuan, China's gold capital.

00:08Visitors like Weiwei are sifting through the sediment,

00:11hoping to unearth glittering flakes she can take home with her.

00:16In the process of sifting for gold from the sand, you'll experience this joy,

00:21a joy that stems from discovering treasure within the most ordinary grains of sand.

00:30Jiayuan is China's largest gold production base and houses several major mining companies.

00:36But to reduce reliance on resource extraction,

00:39policymakers are pushing places like this to develop experiential tourism.

00:44Gold panning is proving to be popular.

00:47During this year's National Golden Week holidays,

00:50Chinese media reported that it received an average of nearly 40,000 visits a day.

00:56Gold has always been cherished by people.

01:00Everyone adores gold and is eager to pursue it.

01:03We welcome friends from all corners of the world to our region.

01:07At a jewelry mall in the city center, surging prices don't guarantee prosperity.

01:12China recently scrapped a tax rebate on gold jewelry,

01:16a move aimed at boosting government revenue amid a sluggish economy.

01:23High prices definitely impact sales.

01:26It's simply too expensive.

01:27She said she intended to buy more,

01:30but now fewer people are considering purchases.

01:34Weak consumer sentiment and thousands of retailer closures across the country underscore the challenges.

01:41For Jiayuan, the future hinges on a new kind of fortune,

01:45a diversified economy beyond precious metal.

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