China cuts red tape for gold industry

China's central bank will no longer have to approve gold manufacturing, processing and trading in the country.

Source: Eastday

Gold manufacturing, processing and trading will no longer be subject to approval by China's central bank, a bid to further open the country's gold industry and bring it into line with international practice, today's Beijing Youth Daily said.

As a result, more overseas companies will flood in to form joint ventures with domestic gold producers, according to industry analy