logo
Watch: Locals In China Dig For ₹12 Crore Worth Of Gold Washed Away In Flash Flood

Watch: Locals In China Dig For ₹12 Crore Worth Of Gold Washed Away In Flash Flood

News183 days ago
Last Updated:
A sudden flash flood swept away 20 kilograms of gold and silver jewellery from a local shop.
A sudden flash flood in Wuqi County, located in China's Shaanxi Province, triggered chaos after nearly 20 kilograms of gold and silver jewellery were swept away from a local gold shop. The incident, which occurred on the morning of July 25, left both the shop staff and residents searching for the missing valuables.
Water Rushed In Before Staff Could React
As reported by The Standard, the jewellery store named Laofengxiang was hit just as staff arrived to open for the day. According to the shop's owner, Ye, staff members had stayed overnight to keep watch and had not moved the jewellery into the safes. When flood warnings were issued that morning, all inventory was still out on display.
Within minutes, water surged through the front entrance and rose to over one meter. The powerful current burst through the shop and swept away display cabinets and trays filled with jewellery.
Jewellery, Safe And Cash Missing
Ye shared that the missing items included gold necklaces, bangles, rings, earrings, pendants, diamond rings, jade pieces and silver ornaments. The store's safe, which contained new inventory, recycled gold and a large amount of cash, was also missing.
Based on current market prices, the total value of the washed-away items is estimated to exceed 10 million yuan (approximately Rs 12 crore).
Ye's son, Xiaoye, told The Standard that the family and shop staff spent two days searching the area after the flood. So far, they have managed to recover around one kilogram of jewellery. Some items were returned voluntarily by residents.
The store's CCTV system was down and failed to record the incident due to power outages during the flooding. This has made it difficult to track how the valuables were swept away or who might have picked them up.
Once the news spread, residents began rushing to the area in hopes of finding lost items. Images and videos shared online showed people combing through the mud to search for the items. The report mentioned that some even used metal detectors in a thorough search.
A gold shop in Wuqi County, Shaanxi says around 20kg of jewelry was lost in recent floods. About 1kg has been recovered so far. Police are investigating, and local authorities are urging anyone who found gold to return it. #Shaanxi #floods pic.twitter.com/kZQsaLqJnz — Spill the China (@SpilltheChina) July 27, 2025
'Some residents reported seeing others picking up jewellery, but no one has come forward to return any items," Xiaoye said. He appealed to anyone who found jewellery to return it to the store. He also announced a reward proportional to the value of the returned items.
Xiaoye also warned that the store would take legal action if anyone was found intentionally keeping the lost jewellery.
As per the report, local authorities, including the Market Supervision Bureau and the Public Security Bureau, have launched an investigation into the matter.
view comments
First Published:
Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

SMEs in Pune and Pimpri-Chinchwad seek govt intervention to cushion blow of Trump's tariffs on India
SMEs in Pune and Pimpri-Chinchwad seek govt intervention to cushion blow of Trump's tariffs on India

Indian Express

time12 minutes ago

  • Indian Express

SMEs in Pune and Pimpri-Chinchwad seek govt intervention to cushion blow of Trump's tariffs on India

Small-scale industries in Pune and Pimpri-Chinchwad have urged the Central and Maharashtra governments to take immediate steps to mitigate the negative effects of the 25 per cent tariffs on imports from India proposed by United States President Donald Trump. Industrialist Arun Firodia has called for a drastic reduction in electricity charges as well as interest rates to ensure the sustainability of engineering exports. Firodia, who is the chairman of Kinetic Group, said drastic steps like a reduction in electricity rates have to be taken to keep up the competitiveness of Indian engineering goods in the US and world market. 'Our industries should get electricity at Rs 2 per unit,' he said. At present, industrial units purchase electricity at Rs 8.32 per unit in the state, which is one of the highest in the country. 'The government must take steps to increase the purchase power of the consumer by reducing domestic taxation,' he said. Last week, Trump announced a 25 per cent tariff on Indian imports from August 7, alongside an additional but unspecified 'penalty' for India's defence and energy imports from Russia. Small- and medium-scale industries in Pune and Pimpri Chinchwad are mostly vendors and sub-vendors of the automotive industry in the district. In Pimpri-Chinchwad alone, more than 5,000 small and medium-scale industries employ over 3-4 lakh people in various engineering operations. SMEs are also involved in exports directly or indirectly. Precious stones, engineering goods, pharmaceutical, textiles are some of the major exports from the country to the USA. Abhay Bhor, president of the Federation of Small Scale Industries Association in Pimpri-Chinchwad, urged both the state and Central government to take urgent steps to mitigate the effects of the tariff. 'Engineering goods, pharmaceuticals, electronics and industrial packaging units are based on the US export markets for their survival. The tariff, Bhor said, will result in loss of jobs as well as closure of the industries. 'Most industries are going through a rough patch with this tariff; it can really be a body blow to the industries,' he said. Bhor requested Chief Minister Devendra Fadnavis to immediately interfere to ensure this crisis is resolved. 'The sector requires handholding and the chief minister must take urgent steps to help the sector,' he said.

Nippon India mutual fund opens Leh branch to boost border inclusion
Nippon India mutual fund opens Leh branch to boost border inclusion

Business Standard

time12 minutes ago

  • Business Standard

Nippon India mutual fund opens Leh branch to boost border inclusion

In a bid to deepen financial inclusion, Nippon Life India Asset Management Ltd has opened a branch in Leh and is looking to expand its presence in border areas, its CEO Sundeep Sikka said. With this, Nippon Life India Asset Management (NAM India) -- promoted by Japan's Nippon Life Insurance Company -- becomes the only asset management company in the country to establish a physical presence in such a high-altitude region. This marks NAM India's 167th branch and its presence in 266 pin codes across the country. Explaining the reason for opening the branch, Sikka said Ladakh, a Union Territory known for its breathtaking landscapes, has seen a surge in tourism and economic activity in recent years. However, the region's financial landscape remains relatively underdeveloped, with limited access to a diverse range of investment products. The average assets under management (AAUM) in Jammu & Kashmir and Ladakh stood at Rs 10,844 crore as of June 2025, accounting for less than 0.14 per cent of India's total mutual fund assets. In contrast, India's overall mutual fund AAUM reached a staggering Rs 74.80 lakh crore during the same period. "With a presence in Leh, Ladakh, Nippon India Mutual Fund aims to bridge the financial literacy gap, develop a healthy mutual fund ecosystem and offer local residents the opportunity to participate in the Indian capital markets," Sikka said. The company plans to open more branches in India's border regions that often face limited access to formal financial services, the chief executive said. However, he did not specify a timeline for the rollout of additional branches. At present, Nippon India Mutual Fund is present in all districts and 97 per cent of PIN codes across India. When asked about the challenges of operating in such regions, Sikka pointed out that while many residents have a decent income, there is a clear lack of awareness about formal investment avenues. "People here are earning well, but often end up putting their money into unregulated or informal products due to limited financial literacy," he said. Highlighting the need for investor education as a top priority, he said the company's first objective is to build trust and understanding around mutual funds. "We are also exploring the launch of simple, easy-to-understand products tailored to the needs of first-time investors in these areas," he noted. About the company's future expansion strategy, Sikka said Nippon India Mutual Fund is focused on strengthening its digital infrastructure, noting that nearly 70 per cent of new investors are now coming through online channels. At the same time, the company remains committed to expanding its physical presence, recognising that on-ground branches play a key role in building trust. Additionally, he revealed plans to launch a Specialised Investment Fund (SIF) aimed at offering more targeted investment solutions.

Mumbai to Ahmedabad in just 127 minutes: India's first bullet train service to begin soon, says Ashwini Vaishnaw
Mumbai to Ahmedabad in just 127 minutes: India's first bullet train service to begin soon, says Ashwini Vaishnaw

Indian Express

time42 minutes ago

  • Indian Express

Mumbai to Ahmedabad in just 127 minutes: India's first bullet train service to begin soon, says Ashwini Vaishnaw

Mumbai-Ahmedabad Bullet Train Launch: India's first bullet train service on Mumbai-Ahmedabad route will commence soon. Speaking at an event in Gujarat's Bhavnagar, Railway Minister Ashwini Vaishnaw announced that the Mumbai-Ahmedabad bullet train service will begin very soon. Once operational, it will reduce travel time between the two cities to just 2 hours and 7 minutes (127 minutes), he said. 'The first bullet train from Mumbai to Ahmedabad will start very soon, and the work on the project is going on at a fast pace. When it starts running, the journey from Mumbai to Ahmedabad will take only two hours and seven minutes,' Vaishnaw said. बुलेट ट्रेन, मुंबई से अहमदाबाद वाली पहली ट्रेन, वह भी बहुत जल्दी चालू होने वाली है। तेजी से काम चल रहा है और जब यह ट्रेन चालू हो जाएगी। मुंबई से अहमदाबाद मात्र 2 घंटे 7 मिनट की जर्नी रहेगीः माननीय रेल मंत्री श्री @AshwiniVaishnaw जी — Ministry of Railways (@RailMinIndia) August 3, 2025 The Railway Minister was at Bhavnagar terminus from where he virtually flagged off three trains: the Bhavnagar Terminus–Ayodhya Cantt Express, the Rewa–Pune Express, and a new train connecting Jabalpur to Raipur. The 508-km long Mumbai-Ahmedabad High Speed Rail (MAHSR) project will have 12 stations namely – Mumbai, Thane, Virar, Boisar, Vapi, Billimora, Surat, Bharuch, Vadodara, Anand, Ahmedabad and Sabarmati. The total estimated cost of MAHSR project is Rs 1,08,000 crore (approximately). Of these, Japan International Cooperation Agency (JICA) is funding 81% of the project cost i.e. Rs. 88,000 crores. Last year, Chennai-based Integral Coach Factory (ICF) awarded a contract to design, manufacture, and commission of two high-speed trains to BEML Limited. Both the trainsets will be developed on Japanese Shinkansen technology. According to BEML, the price of each high-speed car is Rs 27.86 crore and the total contract value is Rs 866.87 crore. Recently, in a written reply to Lok Sabha, Railway Minister Ashwini Vaishnaw stated that the Gujarat portion of the corridor between Vapi and Sabarmati is planned to be completed by December, 2027. 'The entire project (Maharashtra to Sabarmati section) is expected to be completed by Dec, 2029. However, Bullet train project is a very complex and technology intensive Project,' he noted. Anish Mondal is a business journalist with over nine years of experience. He writes on diverse subjects such as Infrastructure, Railways, Roadways, Aviation, Politics, Market, Parliamentary affairs, Corporate earnings, General and International news etc. ... Read More

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store