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"Shanghai gold" to the international market, trading volume is thin

Font Size: [Big][Mid][Small] 2018-1-14    Views: 851    

As a testing ground for Chinese open financial system, Shanghai FTA is expected to usher in the first batch of heavyweight overseas participants.

Chinese is the world's largest gold importer and second only to India, the world's second biggest gold consumer. But over the years, China gold experts have been complaining, Chinese in gold prices can only follow the London and New York market. In September 18th, the Shanghai gold exchange, launched the international edition in Shanghai Free Trade Zone, to build Shanghai gold, gold and London and New York contend, pushed gold "Chinese standards" to the international market.

"The launch of the Shanghai gold", as the international gold miners and international investors to participate directly in the Chinese gold trading, clearing a major obstacle. This time, the Shanghai gold exchange launched three yuan denominated spot contract: Au295, Au9999 and 100 gram gold bars. These spot contracts, designed to attract the mineral rich countries to direct sales in China's gold. At present, the Shanghai gold exchange is between South Africa and Russia's gold miners to contact, hope them directly on the international version of the transaction.