At a Shanghai year‑end party on January 30, a Moonton employee known as "Xiao Jue" was handed a five‑gram gold bracelet as a full‑staff bonus after the company CEO took the stage. Priced at Rmb1,685 per gram that day, the piece was worth about Rmb8,425 — a tangible, wearable reward that, for many recipients, felt like both a status symbol and a hedge against financial uncertainty.
That gift was not an isolated stunt. Economic Observer’s tally shows at least 22 Chinese game companies used gold in various forms as year‑end rewards this season. The trend stretches from broad small‑gifts distributed to all staff at firms such as Bilibili to large jackpot bars placed in raffle pools at other studios, and bespoke commemorative coins granted to long‑service or high‑performing developers.
The gesture is rooted in the industry’s improving fundamentals. China’s game market reported Rmb3507.89bn in revenue for 2025, up 7.7% year‑on‑year, and a record 683m users, up 1.35%. Several listed developers have forecasted sharp profit recoveries or a return to profitability for 2025, giving employers both the means and the confidence to splash out at company gatherings.
Gold’s popularity as a reward also mirrors its extraordinary price run in 2025, when bullion repeatedly hit fresh highs and private investors treated it as a hot store‑of‑value. For managers, awarding gold carries an extra emotional dividend: it is visible, social‑media‑friendly and lends itself to year‑end showmanship in a way cash bonuses or vouchers do not. HR teams report that prize‑board photos, often circulated with employee referral codes on platforms like Xiaohongshu, double as recruitment marketing.
The mechanics vary. Some studios distributed small chains or bars to everyone; others seeded lottery pools with larger bars — special prizes ranged from 10g to 100g — while a third group issued heavy commemorative coins to mark 10‑ or 15‑year tenures. Responses among staff were mixed: some plan to keep and wear the pieces as personal tokens, while others say they would sell instantly to realise cash value.
The practice also aligns with product mix and market exposure. Many of the companies handing out gold are makers of “二次元” (anime‑style) games or overseas‑facing titles — categories that reported strong revenue growth last year. High earners such as MiHoYo (HoYoverse) and other studios with blockbuster titles or successful overseas monetisation are among those able to reward staff conspicuously.
For smaller or mid‑tier studios, gold serves an outsized strategic role. Companies that cannot match the brand recognition of Tencent or NetEase use lavish year‑end prizes to generate buzz, recruit talent and signal financial health. The public and performative nature of metal‑based rewards makes them currency in a market where employer reputation matters for attracting experienced engineers and designers.
Nevertheless, the spectacle should not be mistaken for uniform prosperity across the sector. The move to pay in gold is a signalling device as much as it is remuneration, and its long‑term efficacy depends on commodity prices, tax and payroll treatment, and whether firms continue to improve core sales and profitability. For now, the gold frenzy offers a vivid snapshot of an industry seeking to re‑establish confidence after years of consolidation and correction.