20.03.2015 - China to allow more firms to trade gold
China’s central bank on Thursday detailed plans on granting more licences for gold imports and exports, while maintaining that it could impose trade restrictions when necessary. A further opening up of the world’s second biggest bullion market would underpin demand for the metal while also boosting global prices that have dropped 9 percent in two months. Import licences could be granted to gold producers, refiners and financial institutions, who meet certain requirements, from April 1, the central bank said on its website on Thursday. Currently, only 15 banks can import gold into China. In the last few years, Beijing has accelerated the pace of reforms in the gold market. It allowed foreign banks to import gold for the first time in 2013 and launched gold-backed exchange traded funds for the first time that year...............................................Full Article: Source
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