According to Article 8 of the Regulations on the Administration of Gold and Silver in People's Republic of China (PRC), the purchase of gold and silver 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).
Extended data:
"Regulations on the Administration of Gold and Silver in People's Republic of China (PRC)" Article 4 The national competent authority for the administration of gold and silver is the People's Bank of China. The People's Bank of China is responsible for managing the national gold and silver reserves; Responsible for the purchase and distribution of gold and silver; To formulate and manage the purchase and placing prices of gold and silver in conjunction with the national price department;
To examine and approve, in conjunction with the relevant competent departments of the state, units that operate (including processing and selling) gold and silver products, chemical products containing gold and silver, and units that recover gold and silver from waste residue, waste liquid and waste containing gold and silver (hereinafter referred to as operating units), and manage and inspect the gold and silver market; Supervise the implementation of these regulations.
Baidu Encyclopedia-Regulations on the Administration of Gold and Silver in People's Republic of China (PRC)