CCB Becomes Member of New Gold Exchange

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Last updated at: (Beijing Time) Wednesday, November 28, 2001

CCB Becomes Member of New Gold Exchange

The China Construction Bank (CCB), one of China's four major state-owned commercial banks, has become a member of the Shanghai Gold Exchange which will start itstrial operation Wednesday.

The China Construction Bank (CCB), one of China's four major state-owned commercial banks, has become a member of the Shanghai Gold Exchange which will start itstrial operation Wednesday.

The CCB source said Tuesday that, as a financial member of the exchange, the bank is allowed to deal in gold and provide agent services as well as conduct gold import and export.

The Shanghai Gold Exchange signals the opening-up of Chinese gold market in which the government has made great efforts to reform it this year.

The CCB is cooperating with world banks such as the Swiss Bank Corporation to develop new gold-related products so that clients can enjoy diversified investments and financing services with low risks, the source says.

As one of the clearing banks and materials trust banks for the gold exchange, CCB has finished preparations for entering the exchange, the source adds.