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Giving Gold A Foreign Touch

11月26日 编辑 39baobao.com

[ForeignExchangeDeposit外币储蓄]I.Product of Marketing一、营销产品Foreign Exchange Deposit 外币储蓄II. Client’s Background Information二、客户背景1.Name: Wang Qian 6.She lives with her so...+阅读

上海黄金交易所呼吁央行批准其实行合格境外投资者机制,允许境外投资者在黄金市场上进行交易。上海黄金交易所正在游说中国央行以期其批准一项合格境外投资者机制,允许境外投资者在黄金市场上进行交易。

An executive of Shanghai Gold Exchange yesterday said that China's sole national gold bourse has made submissions to the central bank to attract foreign gold traders.

"We are striving to invite qualified international banks and gold firms to directly conduct transactions in our exchange," said Wang Zhe, general manager of the gold exchange.

"The move will build more channels for us to integrate with the international gold market," Wang said yesterday at an international forum on global gold outlook, infrastructure support and market development in Beijing.

At present, there are 128 domestic membership traders in the gold exchange, including mercial banks and gold producers and processors, which conduct spot transactions using renminbi.

The exchange was launched in late 2002, marking a substantial step towards liberalization of China's gold market. Previously, domestic gold producers had to sell all of their gold to the central bank.

"However, the gold exchange is close to the international gold market without engagement of foreign traders. Domestic gold prices don't move fully in line with international prices," Wang said.

Integration with the international market will pe the way for the gold exchange to open individual gold investment businesses, he said.

The Shanghai branch of the China Industrial and mercial Bank started pilot individual gold investment business at the gold exchange in October.

Albert Cheng, managing director of the World Gold Council's Far East operations, yesterday suggested Chinese regulators should permit mercial banks to carry out gold investment business quickly to meet market demand.

"The construction of an over-the-counter gold trade platform at mercial banks is an important alternative to extend the gold trade platform," Cheng told the forum.

"For the general public, such a trade platform is reliable and convenient, and it can provide extended financial services. For gold producers, this platform can put product sale and business credit together into their own development strategy. These are advantages that are not seen on any other platforms," he said.

The gold council predicts that gold demand in China will grow to 600 tonnes annually in ing years with the opening of gold investment businesses from around 200 tonnes now.

"However, gold investment does not mean speculating in money. We must make sure that we develop the gold investment market in China for the purpose of providing the Chinese people with a safer means of keeping the value of assets. For a healthy development of China's gold investment market, we should weaken the awareness of speculation," Cheng said.

Paul Walker, chief executive officer of GFMS Ltd, the London-based precious metals consultancy, yesterday said that world gold prices will range between US$390 and US$455 per ounce during the second half of this year.

World gold prices recently reached a 18-year record high of US$455 per ounce mainly due to the weakening US dollar. "GFMS' base case prophesies a slump in the dollar and surge in (gold) investment likely to continue," Walker said.

Gold trade volume in the Shanghai Gold Exchange rose by 39.53 per cent year-on-year to 257.72 tonnes in the first 10 months of this year.

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