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China remains as the largest gold trading market

(People's Daily Online)    10:03, July 13, 2015

As Shanghai Gold Exchange reveals, its total turnover of the first half year of 2015 has year-on-year growth of 151 percent with volumes of transaction on gold and silver keeping climbing up. Till now, China has been the largest gold trading market for 8 years.

Statistics show that the total volume of transactions for the first half of 2015 at Shanghai Gold Exchange has a year-on-year growth of 139 percent. The volume of transaction on gold is 17,520 tons with a 166 percent growth rate, and the volume of transaction on silver 380,000 tons with a growth rate of 151 percent.

As the one and only national legal gold exchange market set up by People's Bank of China, Shanghai Gold Exchange has globally been the largest gold exchange market for 8 years. Its status and rank have been rising, and now it is marching forward as an important world market for precious metal exchange.

The vice general manager of Shanghai Gold Exchange Shen Gang notes that China has great market demands for gold, and under RMB internationalization and the boost from the construction of the Shanghai International Financial Center, China now is qualified to set up its own pricing mechanisms of gold RMB, and it is planned to be released to the public by the end of this year. 

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Editor:Yao Xinyu,Yao Chun)

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