Article 8 of the Regulations on the Administration of Gold and Silver in People's Republic of China (PRC) shall be handled by the People's Bank of China. No unit or individual may purchase gold and silver except with the permission or entrustment of the People's Bank of China.
Article 12 Individuals selling gold and silver must sell them to the People's Bank of China.
Article 13 Unearthed ownerless gold and silver belong to the state, and no unit or individual may melt, damage or possess it. Unearthed ownerless gold and silver discovered by units and individuals must be redeemed by the People's Bank of China, and the price shall be turned over to the state treasury. However, if it has the value of historical relics, it shall be handled in accordance with the provisions of the Cultural Relics Law of People's Republic of China (PRC).
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Article 22 of the Regulations on the Administration of Gold and Silver in People's Republic of China (PRC) shall not purchase or consign gold and silver products or equipment. Jewelry stores can buy jewelry inlaid with gold and silver for export, but they are not allowed to buy or sell gold and silver products and equipment. Gold and silver products are purchased by the People's Bank of China for export.
Article 23 Individual silversmiths in frontier minority areas and coastal areas where the relatives of overseas Chinese are concentrated may, with the approval of the People's Bank of China at or above the county level and the administrative department for industry and commerce, engage in the business of processing and repairing gold and silver products on behalf of customers, but may not purchase or sell gold and silver products.
Baidu Encyclopedia-Regulations on the Administration of Gold and Silver in People's Republic of China (PRC)