www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Companies

ICBC may be latest to join London bullion fix

(Agencies) Updated: 2015-06-26 08:10

ICBC may be latest to join London bullion fix

Pedestrians walk past a branch of ICBC (Industrial and Commercial Bank of China) in Shanghai, China, Dec 4, 2014. [Photo/IC]

Industrial & Commercial Bank of China Ltd has become the latest Chinese bank to consider joining the auction process that sets gold prices in London.

ICBC may join the London process directly or through its United Kingdom-based Standard Bank Plc unit, Zhou Ming, general manager of the precious metals department at ICBC, told the London Bullion Market Association Conference on Thursday in Shanghai.

Bank of China Ltd last week became the first Chinese bank among the 10 participants in the twice-daily auction.

"It will greatly benefit the London gold fix to include the Chinese banks as China is the world's largest gold consumer now," said Jiang Shu, chief analyst at Shandong Gold Financial Holdings Capital Management Co. A separate yuan-denominated gold price in Shanghai "in the future may present some competition to the London fix", Jiang said.

China is boosting its influence in global commodities and currency markets as it seeks to make the yuan a viable competitor to the dollar. The government wants to add the yuan to the International Monetary Fund's basket of reserve currencies.

"We Chinese banks want to expand our reputation and brand influence in the Western market," Zhou said.

London's new gold-pricing process started earlier this year as a more transparent alternative to a previous method in which banks participated by phone. London is the world's largest market for over-the-counter gold trading with an average of $20.2 billion in the metal changing hands each day in April, clearing data from the LBMA show.

More Chinese banks will probably take part in the new London auction, Grant Angwin, chairman of the LBMA, said on the sidelines of the conference. China Construction Bank Corp is expected to join as a member "in the coming weeks," Intercontinental Exchange Inc said on Monday.

China's gold consumption may reach 1,000 metric tons this year if its stock market reverses its rally and investors seek haven investments, Roland Wang, China director of the World Gold Council, said on Wednesday. The country consumed 973.6 tons last year, according to the WGC.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 麻豆19禁国产青草精品 | 69中国xxxxxxxx18| 欧美a一级片 | 欧美一级日韩一级 | 99热久久精品免费精品 | 欧美视频 亚洲视频 | 欧美性色一级在线观看 | 亚洲欧美一区二区三区孕妇 | 日韩欧美在线播放视频 | 欧美片欧美日韩国产综合片 | 欧美日韩生活片 | 毛色毛片| 国产黄色美女 | 国产精品嘿咻嘿咻在线播放 | 国产亚洲精品自在久久77 | 国产永久精品 | 不卡一区二区在线观看 | 国产三级做爰高清视频a | 在线中文字幕亚洲 | a毛片免费全部在线播放毛 a毛片免费视频 | 亚洲免费视频网 | 99久久国产综合精品成人影院 | 日韩特级 | 亚洲va精品中文字幕动漫 | 美国a毛片| 成人亚洲网站 | 日本天堂视频在线观看 | 日b毛片 | 91精品国产高清久久久久久io | 国产激情视频网站 | 国产亚洲欧美一区二区三区 | 国产一级黄色 | 中文一区在线 | 国产精品久久久久国产精品 | 成年人免费黄色片 | 国产成人91精品 | 国产精品推荐 | 日韩色综合 | 天堂影院jav成人天堂免费观看 | 欧美高清在线视频在线99精品 | 欧美日韩精品乱国产 |