China unveils plan to further develop gold market

Chinese government departments recently released an overall plan outlining the main tasks for the future healthy development of China's gold market.

The "Opinions on Promoting the Development of the Gold Market" was recently co-issued by the People's Bank of China, the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Finance, the State Administration of Taxation and the China Securities Regulatory Commission.

According to the opinions, the orientation of China's gold market will be determined, a sound service system will be established and relevant policies and regulations will be further improved.

The Shanghai Gold Exchange and Shanghai Futures Exchange will explore ways of improving the tax policies for gold investment products and commercial banks' gold business.

The number of commercial banks that are qualified to import and export gold will be increased, and the development of the gold leasing market will be further promoted.

New channels for physical gold supply will be established, and the foreign exchange policy for the gold market will also be improved. Financing services will be improved, and the gold market will be more open to the outside world.

By People's Daily Online
Additional support provided by LOTO

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