"An executive of Shanghai Gold Exchange yesterday said that China's sole national gold bourse has made submissions to the central bank to attract foreign gold traders.
We are striving to invite qualified international banks and gold firms to directly conduct transactions in our exchange," said Wang Zhe, general manager of the gold exchange.
<snip>
The gold council predicts that gold demand in China will grow to 600 tonnes annually in coming years with the opening of gold investment businesses from around 200 tonnes now.
<snip>
However, gold investment does not mean speculating in money... We must make sure that we develop the gold investment market in China for the purpose of providing the Chinese people with a safer means of keeping the value of assets. For a healthy development of China's gold investment market, we should weaken the awareness of speculation," Cheng said."
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