Monday, April 25, 2016

Hong Kong gold exchange expanding into Chinese free trade zones

With the establishment of a new gold price mechanism at the Shanghai Gold Exchange earlier this week, the wheels are now being set in motion for expanding the use of gold and gold services throughout every part of China’s dominion.  And on April 24, the Hong Kong gold exchange teamed up with the world’s second largest bank, the Industrial and Commercial Bank of China (ICBC), to launch physical gold exchange services in the first of many free trade zones.

China has already announced that all along the new Silk Road, and in free trade zones that they are creating with local and international partners, banking facilities would be constructed to aid in both trade and commercial investment, which over time would promote the use of gold in the process.

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