Tuesday, 30th November 2004 (3136 views)

The Shanghai Gold Exchange has announced that it is has made submissions to the central bank to help attract foreign gold traders.

Currently there are 128 domestic membership traders in the gold exchange, such as processors, producers and commercial banks.

Wang Zhe, general manager of the gold exchange, told XIC: "We are striving to invite qualified international banks and gold firms to directly conduct transactions in our exchange.

"The move will build more channels for us to integrate with the international gold market."

The exchange was first launched near the end of 2002, in a key step towards liberalisation of China's gold market.

It is hoped that integration with the international market will help build a way for the gold exchange to open individual gold investment businesses.

 

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