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China approves its first gold bullion ETFs

Posted on 11 June 2013

Chinese securities regulators approved for launch two gold bullion gold ETFs that will trade on the Shanghai stock exchange, bringing to investors in China an ETF concept that has been a smashing success in the U.S. but that has run into head winds in recent months as the 12-year gold rally falters.
The approvals allow Huaan Asset Management Co. and Guotai Asset Management Co. to proceed with separate product launches, according to a report published by Bloomberg News that cited sources at both asset management firms. It wasn’t clear from the report when the products might go live………………………………………..Full Article: Source


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