“Gold Road” New Business Mode Webinar Successfully Held

Date: 2020-11-12

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In order to effectively align China's gold production capacity with domestic and oversea physical gold demand and promote the development of both domestic and oversea markets, Shanghai Gold Exchange (“SGE”) successfully held “Gold Road” webinar with topic of standard gold ingot re-export on 10th November 2020, to explore banks and refineries cooperation opportunities lying on SGE international board. Over 150 practitioners from financial institutions and refineries attended this webinar.

“Gold Road” is a new business project based on SGE international board in response to the Belt and Road Initiative. It has piloted several innovations, including "Gold Leasing + Jewelry Processing" and “Shanghai-Macau Offshore Account Connect”. This June, first “Standard Gold Ingot Processing and Re-export” trade launched. In this mode, SGE provides a convenient and safe trading platform for market participants, unblocks bottlenecks between domestic and international gold supply and demand circulation, integrates gold industry value chain and extends China’s gold industry cooperation to the “Belt and Road” countries, accelerates the establishment of a new gold circulation pattern with large domestic economy circulation as core and cross-board economy dual circulation as facilitator.

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