A Jiangsu local party chief has delivered on his promise to reward villagers with 600kgs of silver and gold.
Back in 2009 local village leader Li Liangbiao promised “gold in the hands of every villager” to his constituents and last month he delivered on that promise. Each of the Changjiang village's 3,000 residents, who are all collective owners of China top 500 company Jiangsu Xinchangjiang Group, received 100 grams of silver and 100 grams of gold in dividends, adding to their private villas, stock dividends and other perks they have acquired over the previous years.
Current gold prices in China are hovering around 400 yuan ($62.5) per gram, meaning each resident will enjoy a windfall of around 40,000 yuan ($6,250 well over the average disposable income per capita in rural areas. Every villager has a share, although some are more equal than others; the highest dividend given to a single household was 700 grams, which would be worth an estimated 280,000 yuan ($47,750).
Villager's specifically requested gold, which they hope to spend in a number of ways. One family will invest it in their children's future, others will turn their precious metals into family heirlooms and some will use them as dowries for future son-in-laws. The villages auspicious reputation may even help some find love, remarked one proud parent, saying “Changjiang already had a large reputation, now our reputation for gold is even larger. With this reputation, we no longer need to worry about our daughter having trouble finding a suitable man to marry.”