It is rumored that the Shanghai Gold Exchange (hereinafter referred to as "Golden Exchange") has established a plan for the establishment of a gold international board by the People's Bank of China. In this regard, Great Wisdom News Agency has sought confirmation from insiders. Insiders pointed out that the People's Bank of China has in principle agreed to the plan of the International Board of the Stock Exchange and has issued the "Reply on the Approval of the Establishment of the International Business Sector of the Shanghai Gold Exchange".
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The person said that the final agreed plan is not much different from the previous one. According to the approval plan, the transaction will be denominated in RMB. In terms of specific operational methods, overseas customers will open a special fund account for gold investment settlement at the settlement bank designated by Shangjin, and handle cross-border fund settlement in accordance with relevant regulations.
Earlier, the chairman of the Gold Exchange, Xu Luode, said in an interview with the media that the gold exchange will register a subsidiary named “Shanghai International Gold Trading Center†in the Shanghai Free Trade Zone as soon as possible. The company is a joint stock company, but it will not Introduce other shareholders.
For the gold international board, market participants said that the use of renminbi pricing will not only benefit the internationalization of the renminbi, but will also enhance the international influence of the renminbi-denominated gold price. The source believes that China's gold market is still relatively closed. The gold international board is the beginning of the opening of the gold market, which is conducive to China's import of physical gold. However, this opening is limited, and the access of funds is still under supervision.
The Gold Exchange is the world's largest physical gold exchange, and all spot gold trading in China must be conducted on the exchange. At present, some financial trading markets in Shanghai, including Shanghai Gold Exchange, Shanghai Futures Exchange, Foreign Exchange Trading Center, Equity Exchange Center, United Property Rights Exchange, and other financial markets in other provinces and cities, are interested in building international markets in the Free Trade Zone. Financial factor market.
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