China’s Global Gold Market Role Expands

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The Chinese gold market continues its deregulation apace, with the latest announcement coming from the Shanghai Gold Exchange, that in early July it will launch individual gold bullion trading, via a partnership with China's Industrial Bank, to be followed by a partnership with Huaxia Bank and in all likelihood the Industrial and Commercial Bank of China.

China looks set to enjoy continued deregulation, with some banks now allowed to import gold into the country, and further integration into the international markets is well nigh inevitable.

The Chinese gold market continues its deregulation apace, with the latest announcement coming from the Shanghai Gold Exchange, that in early July it will launch individual gold bullion trading, via a partnership with China's Industrial Bank, to be followed by a partnership with Huaxia Bank and in all likelihood the Industrial and Commercial Bank of China.

The Shanghai Gold Exchange (SGE) is the only authorised physical platform for gold trading in China and this latest announcement follows the approval in April this year from the People's Bank of China for the SGE to launch gold futures trading; the paperwork is currently underway for the necessary application to the China Securities Regulatory Commission.

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