Abstract: Since the late 1980s，the traditional pawnshops in China have been revived with the civilian products business mainly composed of gold and jewelry business that has been playing a dominating role.However，this situation has been transformed in 21st century.Real estate and automobile business have occupied the dominating role，surpassing the gold and jewelry business.This paper analyzes the influencing factors of the development of the gold and jewelry business in terms of the development of national emerging industries，pawnbroking policies，business risks and customers.It is concluded that the key reasons are the changes of national economic development pattern，policy environment and pawning demand in the last decade.Although it is difficult to recover the role of gold and jewelry business，it is still an indispensable part in traditional pawnshops.As long as the government gives favorable policy to enhance the flow capacity of jewelry and the pawnshops allocate jewelry professionals reasonably，the gold and jewelry business of pawnbroking is sure to have a prosperous future.