Gold-Plating and Counterfeit Gold Products in the Live Broadcast Industry
TapTechNews June 30th news, according to the report of CCTV's Financial Investigation, the reporter of the main station found in a squatting investigation in Pingyang, Zhejiang that some handicraft factories will use the gold-plating process to make gold bars and supply them to the live broadcast room.
It is known that the gold bar标称 (TapTechNews note: labeled) 20 milligrams in the live broadcast room may contain only 0.001 grams (TapTechNews note: 1 milligram) of gold although it is marked with the words Au.999. Some factories also have cooperative appraisal institutions, one certificate for one dollar, one certificate with one code, and any certificate can be obtained as they wish.
A factory named Enyao Handicraft uses the process of plating real gold to make gold bars, and the person in charge said that marking 999 is kind of taking advantage of loopholes because real gold can be detected so this operation is done.
Another enterprise in Pingyang County, Yufu Gold and Silver Handicraft Factory, the person in charge revealed that they have a designated testing agency and can get any certificate they want. The reporter followed the address of the testing agency on the certificate to Shenzhen, but found that the Guotai Gold and Silver Jewelry Quality Testing Center on the certificate is a copycat of a name called Guoda (Shenzhen) Gold and Silver Jewelry Quality Testing Center. The person in charge of Guoda (Shenzhen) Gold and Silver Jewelry Quality Testing Center told the reporter that this Guotai testing center, its website, testing contents, etc. are all false, (link) and the backstage may be abroad.
The person in charge of Shenzhen Tonghua Electroplating Factory revealed that due to the shortcomings of copper-plated gold products such as easy fading and easy allergy, it is almost outdated at the market level, while the more high-end gold-clad silver products are emerging in the market. Gold-clad silver products like this can虚报 (TapTechNews note: falsely report) the weight of used gold, and the profit margin is greater. When the reporter questioned whether there would be after-sales risks for such counterfeiting and selling of fake products, the person in charge then told the reporter that to measure the gold content, the product must be melted, and there will be a loss of gold material during this process, and the merchant can deny the measurement result.