China opens gold market to foreigners
Source: www.chinamining.org Citation: Xinhua Date: September 18, 2014
Foreigners are now have access to China`s gold market after the Shanghai Gold Exchange (SGE) launched its international board on Thursday.
The yuan-denominated board was launched in the China (Shanghai) Pilot Free Trade Zone, a move to encourage foreign participation in China`s tightly controlled gold market.
"The international board has made China`s opening up of the gold market a reality," said Xu Luode, the SGE chairman, adding that foreign participation and rising trading volume will make China a real international market.
The new international board hopes to challenge current gold market leaders London and New York. So far, it has attracted dozens of foreign members, including renowned international commercial and investment banks.
It is the first time in China`s capital market that foreign investors can participate in the investment and trading of yuan-denominated products without a capital cap, said a bank dealer on condition of anonymity.
About CHINA MINING
Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.
CHINA MINING Congress and Expo 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20th-23rd, 2014. We invite you to join the event and to celebrate the 16th anniversary of CHINA MINING with us. For more information about CHINA MINING 2014, please visit: www.chinaminingtj.org.
