[miningmx.com] — CHINA will stop new gold exchanges being set up in a bid to harden regulation and promote healthier development of the Chinese bullion market, the central bank said on Tuesday.
The Shanghai Gold Exchange and the Shanghai Futures Exchange are the only two authorised traders of the precious metal, the People’s Bank of China said in a joint statement with the Ministry of Public Security and a group of regulators.
Other existing gold exchanges in China have to stop offering new services, the central bank said.
