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China Opens First Offshore Gold Vault in Hong Kong
The Shanghai Gold Exchange has expanded outside mainland China for the first time, with the rollout of two new contracts and a bullion vault in Hong Kong. The launch serves a number of purposes, from broadening the Shanghai bourse’s international reach, to strengthening China’s clout in commodity and currency markets and Hong Kong’s status as a financial center. Trading will be conducted in yuan and settled by cash or physical delivery, including to the new vault operated by Bank of China Ltd.’s Hong Kong unit, the SGE said in a statement. The two contracts covering different purity levels will debut on ... (full story)
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- Jun 26, 2025 1:58pm Posted byMetals Industry367
