Internationalization Process
SGE actively adapt to the open pattern in the era of global internet, and adhere to focus on both improving domestic market’s development and exploring the global market, by strengthening international cooperation and continuously expanding the opportunities, in which to open a new chapter in the international development.
SGE has always attach importance to the communication and cooperation in the global market, and actively promote the internationalization process. In recent years, SGE has strengthened its interoperability with overseas trading venue, and explored multi-level interactive business opportunities with Bursa Malaysia, Hong Kong Exchanges and Clearing Limited, Malaysia Derivatives Exchange, HKEx Group, Yangon Stock Exchange, Moscow Exchange, Toronto Stock Exchange, Budapest Stock Exchange, and Deutsche B?rse AG. With further promoting of the RMB internationalization strategy, SGE will hold a more open vision into the global market, strengthen the international cooperation, and promote a win-win situation with mutual benefits in the future.
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March 25th, 2004, SHEN Xiangrong, the then SGE’ Chairman met with LBMA’s Chairman and delegates from Scotiabank. |
September 8th, 2004, SHEN Xiangrong, the then SGE’ Chairman, WANG Zhe, the then SGE’s General Manager, and YIN Mingyan, the then SGE’s Vice President, met with Vedat Ozdan, Vice president of Istanbul Gold Exchange. |
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August 2nd, 2005, Jeremy East, the then President of Global Precious Metals Department of Commerzbank, and the delegates visited SGE. SHEN Gang, SGE’s Vice President awarded Jeremy East the Letter of the appointment of SGE’s International Consultant. |
August 15th, 2006, SHEN Xiangrong, the then SGE’ Chairman met with delegates from Vietnam Gold Association and World Gold Council visit SGE. |
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August 2007, SGE’s delegates held meetings with delegates from HSBC Bank (Sydney Branch), ANZ Bank and other financial institutions. |
June 3rd, 2008, senior delegates of the Central Bank of Vietnam, the Ministry of Finance of Vietnam and Vietnam’ Taxation Bureau visited SGE. |
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August 20th, 2008, SHEN Gang, SGE’s Vice President, and YIN Mingyan, the then SGE’s Vice President, met with delegates of ANZ Bank. |
October 10th, 2013, delegates of ANZ Bank visited SGE. |
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November 25th, 2013, Sathit Limpongpan, Chairman of Stock Exchange of Thailand, Charamporn Jotikasthira, President of Stock Exchange of Thailand, and Kesara Manchusree, President of Thailand?Futures?Exchange, visited SGE. |
November 10th, 2014, SGE signed a MOU with CME Group. |
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January 15th,2015,SGE signed a MOU with World Gold Council. |
November 19th, 2015, Paul Wilson, CEO of World Platinum Investment Council, and Marcus Grubb, Market and Development Director of World Platinum Investment Council, visited SGE. |
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March 23rd, 2016, SGE signed a MOU with Hong Kong Exchanges and Clearing Limited. |
May 24th, 2016, senior delegates of Asahi Refining USA Inc. visited SGE. |
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November 16th, 2016, Jeremy East, Global Head of Commodities at Standard Chartered and a member of International Advisory Council of SGE, visited SGE. |
| March 28th, 2017, Haywood?Cheung, president of the Chinese?Gold and Silver?Exchange Society, led the delegates of Chinese?Gold and Silver?Exchange Society’s (45th) board of supervisors, visited SGE. |
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April 20th, 2017, the SGE’s International Advisors Meeting was held in Shenzhen. |
April 25th, 2017, Gautam Sashittal , CEO of DMCC, visited SGE. |
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July 4th, 2017, delegates from Deutsche B?rse AG visited SGE. |
The launch of SGE’s International Board
Based on the favorable opportunity of the China (Shanghai) Free Trade Zone (“FTZ”), and the judgment of the global and Chinese gold markets, SGE’s International Board (“SGEI”) was successfully launched on September 18th, 2014. Global investors are able to trade in SGE by using offshore RMB or convertible foreign currency through opening the FT accounts, which connects with markets in Europe, United States and other overseas gold market, to achieve the global market linkage. SGEI operates separated clearing method, and implement partition delivery for domestic members and international members. SGEI’s physical gold delivery service will be completed in the international board vault in FTZ. SGEI is the first international financial asset trading platform that launched in China (Shanghai) FTZ. It shows that China’s gold market has taken a substantial step forward in the market opening aspect.
SGEI introduced foreign banks, gold enterprises and investment institutions to use offshore RMB or foreign exchange funds to participate in SGE’s RMB quoted precious metals and relevant derivatives trading. SGEI’s 7 characteristics (include: membership globalization, trading globalization, pricing globalization, stable and reliable system, safe and convenient clearing service, convenient and efficient delivery storage and transportation service, and trading time acts on international convention) are conducive to making China a trading center, transit center and information center in the gold market in the Asia-Pacific region.
Zhou Xiaochuan, Governor of the People's Bank of China, Yang Xiong, Mayor of Shanghai, Liu Shiyu, Deputy Governor of the People’s Bank of China, Aram Shirminman, CEO of World Gold Council, Song Xin,President of China Gold Association, Niu Ximing, CEO of Bank of Communications, Xu Luode, Chairman of SGE and other delegates at the SGEI launch ceremony. |
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Zhou Xiaochuan, Governor of the People's Bank of China illustrated that, SGEI will bolster China’s gold market toward greater trading volume and centralization, further highlight the price discovery function of the gold market, enhance China’s financial market system and improve its efficiency. |
Yang Xiong, Mayor of Shanghai, said that, the launch of SGEI will help speed up the liberalization of China's financial market and represents a breakthrough in our efforts to build the International Financial Center and the Pilot Free Trade Zone. |
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December 2013, SGE organized an overseas experts’ seminar to discuss the international board program. |
| September 26th, 2014, SGEI issued certificates to the banks. |
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November 26th, 2015, SGEI held its annual international members roundtable talk. |
November 27th, 2015, delegates of Scotiabank visited SGE. |
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February 26th, 2016, Kairat Kelimbetov, Governor of Astana International Financial Center and former Governor of the National Bank of Kazakhstan (its central bank), and his delegation visited SGE. Both parties agreed to strengthen cooperation, and seek common development for both countries’ gold market under the framework of “the Belt and Road”. |
| March 22nd -25th, Jiao Jinpu, Chairman of SGE, carried out a research study in Hong kong with HKEX on the development of market cooperation. |
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August 31st, 2016, delegates of Bursa Malaysia visited SGE. |
September 2016, Jiao Jinpu, Chairman of SGE, with the delegates carried out a research study in Thailand. |
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The launch of Shanghai-Hong Kong Gold Connect
Shanghai Gold Exchange (the “SGE”) and the Chinese Gold and Silver Exchange Society announced the official launch of the Shanghai-Hong Kong Gold Connect (the “Gold Connect”) on July 10th, 2015. Government officials, gold market regulators, participants from international organizations, commercial banks, gold producer sand investment institutions attended the event to witness this historical moment of mainland China and Hong Kong gold markets.
The launch of the Gold Connect is an important move of opening up of China’s gold market. It is also one of the successful initiatives of corporation between SGE and International Exchanges. It marks the bilateral connection of the gold market between mainland China and Hong Kong, with the appointment of offshore settlement bank which integrates the onshore and offshore gold markets. The launch of the Gold Connect is not only beneficial for the development of mainland and Hong Kong markets, but also further deepen the mutual market connectivity between the two places. It will boost China’s competitiveness and extend the influence and power in the global bullion market.