hello! 1. Different quotation sources: the quotation of paper gold is determined by China Merchants Bank, and the Bank has the right to adjust the quotation according to market conditions; However, the quotation sources of spot and deferred settlement transactions of lucky money are Shanghai Gold Exchange, and the Bank has no right to adjust the quotation.

2. Whether it can be delivered in kind: paper gold is book-entry gold, and customers cannot deliver and pick up the gold in kind; Cash and deferred settlement transactions of lucky money can provide physical delivery.

3. Different trading hours: paper gold can be traded continuously for 5×24 hours; The spot and deferred settlement transactions of lucky money will be closed on every trading day, and continuous transactions cannot be provided.

4. different transaction currencies: paper gold is quoted in RMB or USD; Lucky money is quoted and traded in RMB.

thank you for your attention!