China mulls off shore Yuan Gold trade in Shanghai trade zone

摘要

China, the world’s largest bullion consumerand producer, is considering allowing the useof off shore yuan in gold trading in theShanghaifree-trade zone. The Shanghai Gold Exchange,the country’s biggest physical bourse for themetal, is proposing to let holders of off shoreyuan accounts trade the three contracts it willoff er, including bullion of 99.99 percent purity,according to a draft of the plan obtained byBloomberg News. It stipulates that gold maybe physically delivered into a warehouse in thezone.