On the evening of September 18, the Shanghai Gold Exchange International Board was officially launched. Bank of China, Bank of Communications, Industrial Bank, and HSBC became the first banks to join the Shanghai Gold Exchange International Board in the Shanghai Free Trade Zone. Participate in the transaction. Among them, the Bank of China took the lead and completed the first transaction.
It is understood that the Gold International Board is a platform for domestic and foreign investors to participate in transactions. The institutions registered in the Free Trade Zone and foreign investors can invest in China's gold market through the FT account of the Free Trade Zone, including Chinese commercial banks and asset management. Companies, foreign banks, foreign gold investment companies, and domestic and foreign companies engaged in gold production, processing and sales.
It is reported that as one of the first Class A members of the Gold International Board, the Bank of China took the lead in completing the preparatory work for physical gold warehousing, and completed the first transaction of the Gold International Board at the opening of the day. The relevant person in charge of the Bank of China said that with the official launch of the gold international board, the Bank of China will open up the domestic and overseas gold markets with rich foreign exchange, gold market experience and global service network to provide safe, fast and efficient global customers. Fund settlement services and agency transaction services.
“Acquiring the international membership of the Shanghai Gold Exchange is a landmark step for our precious metals trading and valet business to move from localization to internationalization.†The head of the Industrial Bank's fund operation center said that this will not only help enrich the bank's gold. The channel of trading and the ability to hedge risk will also help the bank to take advantage of Hong Kong as the largest gold entrepot in Asia, connect domestic and overseas markets, provide more convenient gold spot for the domestic market, and promote the bank's gradual expansion of internationalization. Acting business, increasing the use of offshore renminbi, indirectly enhance the trading capacity in the offshore renminbi market.
Huang Bijuan, vice chairman, president and chief executive officer of HSBC Bank (China) Co., Ltd. said that the launch of the gold international board of the Shanghai Gold Exchange has enabled China, the largest country in gold production and consumption, to have its own independent price index. China's influence and pricing power in the international gold market, and provides foreign investors with access to China's gold trading channels.
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