March 19, 2015 / 5:21 AM / 5 years ago

China central bank says will restrict gold trade according to demand

A fluttering Chinese national flag casts its shadow on the headquarters of the People's Bank of China, China's central bank, in central Beijing November 24, 2014. REUTERS/Kim Kyung-Hoon

BEIJING (Reuters) - China will impose restrictions on the import and export of gold and gold products in accordance with adjustments in demand, the country’s central bank said on Thursday.

“The People’s Bank of China can carry out restrictions of gold and gold product imports and exports in accordance with national macroeconomic adjustments in demand,” the bank said in new trade regulations published on its website (www.pbc.gov.cn).

It also said that firms engaging in gold imports and exports bear a responsibility to maintain a balance in supply and demand on the domestic market, and trades need to be registered with gold exchanges approved by the State Council, China’s cabinet.

Reporting by David Stanway; Editing by Richard Pullin

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