China's new gold exchange delayed but not derailed

CHINA - China's plans to open a gold exchange in Shanghai early in 2002 are still intact but laws on important details, including whether to impose the value-added tax on exchange transactions, have yet to be issued, an exchange spokeswoman said on Friday.

"The formal opening will be sometime in the first part of the year. I cannot give you an exact date at this time," said exchange executive Zhang Tingting, an executive at the Shanghai Gold Exchange.

The exchange, which is still conducting

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