Home>>Business
Last updated at: (Beijing Time) Tuesday, November 27, 2001

Free Trade for Gold as from 28th November 2001

As revealed from China's Gem & Jade Association China's domestic gold market will be fully opened on 28th November as soon as Shanghai Gold Exchange starts trading. As experts predict the industrial demand for gold will increase greatly and China's domestic needs for gold will witness a dramatic rise from the current 200 to 500 tons per year.


PRINT IT DISCUSS IT CHINESE SEND TO FRIENDS


Dramatic need for gold

As revealed from China's Gem & Jade Association China's domestic gold market will be fully opened on 28th November as soon as Shanghai Gold Exchange starts trading. As experts predict the industrial demand for gold will increase greatly and China's domestic needs for gold will witness a dramatic rise from the current 200 to 500 tons per year.

Fully opened market for both individuls and enterprises

Currently, the gold used in gem and jade jewelry takes up 96 percent of total amount of gold at the market. With the start of gold trading in Shanghai Gold Exchange to signal the fully opening of China's gold market, it will be easier for both individuals and enterprises to buy gold at a cheaper and more reasonable price

Shanghai Gold Exchange has designated the Bank of China, China Industrial & Commercial Bank, China Construction Bank and China Agricultural Bank as the banks for settling accounts. The traded goods are "9999" one-kilo gold bullion and "9995" three-kilo gold bullion.



by PD Online Staff Yang Ruoqian
    Advanced

Gold Exchange in Shanghai May Be Coming

Chinese Bank Prepares for Opening of Gold Market

China Sets Up New Gold Organization