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Tuesday, 30th November 2004 (4190 views)

The Shanghai Gold Exchange has announced that it is has made submissions to the central bank to help attract foreign gold traders.<BR/><BR/>Currently there are 128 domestic membership traders in the gold exchange, such as processors, producers and commercial banks.<BR/><BR/>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.<BR/><BR/>"The move will build more channels for us to integrate with the international gold market."<BR/><BR/>The exchange was first launched near the end of 2002, in a key step towards liberalisation of China's gold market.<BR/><BR/>It is hoped that integration with the international market will help build a way for the gold exchange to open individual gold investment businesses.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=7201492"/>

 

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