September 11, 2014 / 5:19 AM / 6 years ago

Shanghai Gold Exchange to launch international board on Sept 29

BEIJING, Sept 11 (Reuters) - The Shanghai Gold Exchange will launch an international board in the city’s pilot free trade zone on Sept. 29 to attract overseas capital to invest in China’s gold market, the bourse’s chairman said on Thursday.

The bourse will launch three yuan-denominated physical gold contracts, of 100 grams, 1 kg and the bigger London gold delivery bar weighing 12.5 kg, Xu Luode, chairman of the exchange said at a precious metals conference in Beijing.

The exchange’s progress is being closely tracked by the global trading community as gold is one of the first commodities that China is opening up to foreign players by allowing them to participate directly in physical trade and to use offshore yuan.

Reporting by Dominique Patton

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