China says gold exchange venue not set

China's central bank said on Tuesday it had not decided where to set up the first national gold exchange, denying a newspaper report it would be located in Shanghai.

The Beijing Youth Daily reported on Tuesday that China planned to set up its gold exchange in the first half of 2001 in Shanghai in a move towards opening its strictly controlled market. It did not give any further information or a source.

But an official at the People's Bank of China told Reuters that neither the time nor the venu