SHANGHAI Jan 10 The Shanghai Gold Exchange
plans to launch an international board in the city's pilot free
trade zone in the first half of this year to attract overseas
capital to invest in China's gold market, local media reported
"We are pushing for the international board to be launched
during the first half," Song Yuqin, deputy general manager of
the Shanghai bourse, was quoted as saying in the Shanghai Daily.
"It will definitely be launched within the year," Song said,
adding that the contracts on the international board will be
priced in yuan instead of foreign currencies.
The bourse is now looking for a site for a bonded warehouse
in the zone, he said.
The Shanghai free trade zone, launched in September, is
intended to test profound reforms to the country's economic and
financial system, including liberalisation of China's currency
regime and interest rates
The Shanghai Gold Exchange is the world's biggest physical
gold exchange. All buying and selling of spot bullion in China
has to happen through the exchange.
(Reporting by Fayen Wong; Editing by Richard Pullin)