China's securities regulator published provisional rules for the operation of gold exchange-traded funds (ETF) on January 25, paving the way for introducing such business into China's financial market.
The move will be part of government efforts to boost the development of both the gold market and the capital market.
Gold ETFs are operated in most of the world's major financial markets, with a combined asset scale of more than $140 billion as of the end of July 2012, and China's rapidly growing gold market has created conditions for the development of gold ETFs, according to a statement released by China Securities Regulatory Commission.
China is the world's biggest gold producer and consumer. Its gold output in 2012 is expected to reach 400 tons, according to the China Gold Association. |