Chinanews, Shanghai, Nov. 29 – At the second China Gold Investment Summit held last Friday, deputy director of the People's Bank of China's Shanghai Investigation and Research Office Gu Mingde said that Shanghai had met all the conditions required of a national gold exchange center, and it should have the capability to do so, the Shanghai Morning Post reported.

 

Statistics show that at present, gold market in Shanghai has increased at a rate of 30%. Since the Shanghai Gold Exchange was established four years ago, some 3,075 tons of gold deals have been made there with the total transaction volume amounting to 383.3 billion yuan. The cash value of gold transactions in Shanghai is among the largest in the world.

 

In addition, paper gold transaction among commercial banks in Shanghai has also become an important part of deals in the gold transaction market. It is no exaggeration to say that Shanghai has had all the conditions necessary for a gold exchange center.