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 / Markets

Shanghai launches yuan gold fix

By Wu Yiyao in Shanghai (China Daily) Updated: 2016-04-20 08:55

Shanghai launches yuan gold fix

A customer chooses gold jewelry at a store in Beijing. CAO BOYUAN / FOR CHINA DAILY

New measure could help China gain more pricing power in the global bullion market

The Shanghai Gold Exchange, the world's largest physical gold bourse, on Tuesday launched a yuan-denominated gold benchmark.

The Shanghai Gold Benchmark Price could help China gain a pricing power that matches its position as the world's top producer, importer and consumer of the precious metal.

The benchmark price will be derived from a 1-kilogram contract for gold ingots with a fineness of no lower than 999.9, traded by 18 participants on the exchange. The price will be quoted in the yuan per gram and settled via the SGE platform, according to the official website.

The price will be set twice a day based on a few minutes of trading in each session.

The London benchmark, Loco London Gold, quoted in US dollars per ounce of gold with a minimum fineness of 995, is set via a twice-daily auction on an electronic platform with 12 participants.

The bullion industry has long been dominated by London where the global spot benchmark price is currently set.

"The relationship between Shanghai Gold and Loco London Gold is non-competitive while the two complement and facilitate each other and share mutual benefits," said a whitepaper issued by the SGE.

Market players said that the new benchmark will influence both domestic and international financial markets.

"The Shanghai Gold Benchmark Price will act as a price foundation for domestic gold enterprises in both national and international business," said a research note from the China Gold Association.

"It will provide advantages to domestic gold enterprises from the aspects of raw materials, gold semi-manufactured products, various kind of gold product transactions, the import and export activities, and the negotiation and contract signing of gold investment projects," it added.

Aram Shishmanian, CEO of the World Gold Council, said the launch of the new benchmark represents another milestone both in the impressive development of the exchange and in the internationalization of China's gold industry.

"It is a steppingstone to a new multi-axis trading market consisting of London, New York and Shanghai and signals the continuing shift in demand from West to East," said Shishmanian.

"The World Gold Council continues to support the development of China's gold market, and as the market expands to reflect the growing interest in gold by Chinese consumers, so too will China's influence increase on the global gold market."

Experts said there is a strong rationale for an international effort to shift the price setting to China as it will be responsible for a large share of future growth in world gold consumption.

Commercial banks said they can take advantage in wide participation, transparent mechanism and delivery versus payment settlement of the benchmark.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 999久久久 | 亚洲三级在线看 | 国产成 人 综合 亚洲绿色 | 欧美一级毛片片免费 | 免费一级片视频 | 日韩午夜视频在线观看 | 精品免费久久久久久久 | 久久视频在线播放视频99re6 | 久久精品视频在线观看 | www.一区| 欧美国产成人一区二区三区 | 久青草国产在线 | 国产精品拍自在线观看 | 毛片在线视频在线播放 | 一级女性全黄久久生活片 | 天天看a| 国产色a| 亚洲国产老鸭窝一区二区三区 | 国产激情一区二区三区成人91 | 男女同床爽爽视频免费 | 欧美另类69xxxxx 视频 | 久久频这里精品香蕉久久 | 国产一区亚洲二区三区 | 日韩欧美亚洲国产 | 欧美激情一区二区三区高清视频 | 色综合久久88色综合天天 | 成人18视频在线观看 | 一本色道久久综合亚洲精品高清 | 中国一级毛片aaa片 中国一级毛片录像 | 成人久久18免费软件 | 中文精品99久久国产 | 久久精品一区二区国产 | 亚洲综合精品一区二区三区中文 | 成人9久久国产精品品 | 欧美三级一级片 | 99久久亚洲综合精品网站 | 国产精品午夜性视频 | 国产高清精品久久久久久久 | 国产免费一区不卡在线 | 久久 精品 一区二区 | 69福利网 |