Shanghai Gold Exchange targets foreign investors

Shanghai Gold Exchange is planning an offshore market that allows broader involvement by foreign investors. The market is the first step in the exchange's ambition to become an influential international marketplace for gold trading, Xu Luode, president of the exchange, told Oriental Morning Post on Dec 6.

Shanghai Gold Exchange is the world's biggest gold exchange by trading volume, with daily trading volume averaging more than 10 billion yuan ($1.64 billion) in 2012.

But foreign investment is negligible, due to policy limits on capital account convertibility and trade. Xu promised to introduce new products tailored for foreign investments.