Three robbers were at large last night after stealing 300 taels of gold - estimated by the owner to be worth $1 million - from a shop in the Portuguese enclave.
Initially, police thought they had managed to catch two of them after they had fled on foot.
A member of staff at the shop where the holdup occurred had chased them to the border with the Zhuhai Special Economic Zone.
However, the pair were later discovered not to be the raiders and were released.
The third man also managed to escape after discarding a fake handgun.
The drama began when three masked robbers armed with pistols burst into the Tai Seng Goldsmiths at Iao Hon Estate near the Sino-Portuguese border.
Pointing handguns at the employees, the raiders threw two bags on the counter and ordered staff to fill them up.
A woman employee, who responded slowly with the request, was injured when one robber hit her on the head with his pistol.
The robbers fled the goldsmiths for the border with about 300 taels of gold ornaments.
The shop proprietor, surnamed Li, grabbed his licensed revolver and, accompanied by another member of staff, ran after them.
During the chase Mr Li accidentally fired a shot but did not injure anyone.
At the Barrier Gate, Mr Li was unable to enter the mainland because he possessed a revolver but his employee, who had his Chinese home visit permit with him, continued chasing the three raiders into Chinese territory.
A woman border guard who tried to stop the robbers was injured.