FINANCE

Shenzhen Gold Platforms Suspend Withdrawals Amid Price Surge

Published: Feb. 12, 2026 7:24 p.m. GMT+8

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Two online precious metals trading platforms in Shenzhen’s Shuibei jewelry district have suspended withdrawals amid surging gold and silver prices, trapping investor funds and exposing a high-leverage market operating outside China’s formal exchanges.

Jieworui began restricting withdrawals around Jan. 19, with payouts effectively stopping soon after, while Yundiandang reported withdrawal disruptions on Jan. 31, citing redemption pressure. Investors gathered outside Jieworui’s main office in Shenzhen as tensions escalated.

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Two Shenzhen precious metals platforms suspended withdrawals amid surging gold/silver prices, freezing over 18 billion yuan ($2.6 billion) in investor funds.
Platforms operated as high-leverage, unlicensed futures-like markets, not fully hedged via official exchanges.
Regulatory authorities in Shenzhen have begun inspecting gold trading platforms for suspected illegal financial activity.

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Who’s Who

Jieworui: Jieworui is an online precious metals trading platform based in Shenzhen's Shuibei jewelry district. It began restricting withdrawals around January 19, with payouts stopping soon after, amidst surging gold and silver prices. The company has unsettled account balances and claimed physical metal holdings totaling over 18 billion yuan ($2.6 billion) as of February 4. Jieworui stated that normal operations were unsustainable and applied for government supervision of its assets, proposing discounted settlements to repay clients.

Yundiandang: Yundiandang is one of two online precious metals trading platforms in Shenzhen's Shuibei district that suspended withdrawals. This disruption occurred on January 31, and the company attributed it to redemption pressure. This incident highlights the regulatory challenges in the Shuibei district, where jewelers operate futures-like transactions without proper financial licenses.

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What Happened When

Around Jan. 19, 2026：: Jieworui began restricting withdrawals.

Shortly After Jan. 19, 2026：: Jieworui payouts effectively stopped.

Jan. 25, 2026：: Jieworui announced that normal operations were unsustainable and it had applied for government supervision, proposing discounted settlements for clients.