Regulatory Changes - The People's Bank of China has issued new regulations for anti-money laundering and counter-terrorism financing in the precious metals and gemstones industry, requiring institutions to report cash transactions exceeding 100,000 RMB or equivalent foreign currency within five working days starting from August 1, 2025 [1] Market Trends - International gold prices have been fluctuating around historical highs, with a notable decline of over 10% from peak levels in late July [2] - Demand for gold jewelry has decreased in recent months, with one retailer reporting a 15% drop in transaction volume in July compared to June [2] - The World Gold Council reported a 3% year-on-year increase in global gold demand in Q2 2025, but a significant 14% decline in gold jewelry consumption, nearing levels seen during the 2020 pandemic [2] Consumer Behavior - Consumers are showing a preference for investing in gold bars rather than high-priced gold jewelry, with a notable price threshold of 800 RMB per gram influencing purchasing decisions [2] - The overall consumer confidence remains low, which is expected to continue to pressure gold jewelry consumption in the second half of the year [3] Economic Outlook - Analysts predict that gold prices may remain stable within a narrow range in the second half of the year, influenced by macroeconomic uncertainties and potential geopolitical tensions that could enhance gold's appeal as a safe-haven asset [3]

Core Points - The People's Bank of China has revised the notification regarding the implementation of the "Supervision and Management Measures for Anti-Money Laundering and Anti-Terrorist Financing by Financial Institutions" [1] - The revised document is now open for public consultation [1] Summary by Categories Regulatory Changes - The revision clarifies the regulatory responsibilities of legal financial institutions and specifies the anti-money laundering requirements for non-legal financial institutions [1] - It enhances the risk-based approach to anti-money laundering regulatory work [1] Reporting Requirements - The notification adjusts the reporting requirements for financial institutions regarding anti-money laundering [1] Content Removal - The revision removes content related to anti-money laundering assessment ratings [1] - It also deletes references to the anti-money laundering management information system and its applications [1]