PBoC announces plans to deregulate gold market

gold bars

The People's Bank of China (PBoC) plans to let more banks trade gold in global markets to meet the growing demand for the precious metals in China, a news source reported.

Xinhua, a state-owned Chinese newspaper, reported Tuesday that the PBoC would expand the development of gold markets by allowing more commercial banks to import and export gold, and to encourage them to offer yuan-denominated gold derivatives. It said this would increase the competitiveness of domestic financial markets and br

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