2. New Gold Mountain is the obvious translation of 新金山 (San Gum Saan/Xin Jin Shan).

Victoria and sometimes Australia was often referred to as 新金山 (San Gum Saan / Xin Jin Shan). This is a term derived from the mid-19th century gold rush period when California was succeeded by the gold rushes of Victoria and NSW. Thus California (and San Francisco still) became the “Old” Gold Mountain and Australia (or Victoria) the “New” Gold Mountain. At least this is the usual translation. 

The translation “Gold Mountain” is now the ubiquitous choice for the Chinese characters 金山 (gum saan / jin shan) but this was originally a choice over the more accurate if prosaic “goldfields”. This is a preference that sought to make exotic what Europeans considered normal – namely, rushing to goldfields. While an attractive term that is good for titles of novels and films it should be noted that it plays a part in that “othering” of Chinese people that began in the 19th century in white settler nations such as Australia and the U.S. Now firmly embedded in contemporary discourse it’s use – while inevitable – should be qualified by this origin.