Shanghai Gold Exchange Free-Trade Zone Plan Approved by PBOC
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The Shanghai Gold Exchange’s international bullion trading platform will be included in the banking system for the city’s free trade zone, China’s central bank said today.
The bourse signed agreements with Industrial & Commercial Bank of China Ltd., China Construction Bank Co., and the Shanghai branches of Bank of China Ltd. and Shanghai Pudong Development Bank Co., the People’s Bank of China’s Shanghai head office said in a statement today. Investors who meet the necessary requirements can open free-trade accounts with these four lenders to trade gold in the zone, according to the statement, which didn’t detail the guidelines.