日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

US EUROPE AFRICA ASIA 中文
Business / View

Golden opportunity for Shanghai Gold Exchange

By Tom McGregor (chinadaily.com.cn) Updated: 2012-11-15 15:15

Golden opportunity for Shanghai Gold Exchange

Tom McGregor

Chinese gold consumers have become key players for global demand of the precious metal. Buying gold has risen dramatically in China and India. Nevertheless, major trading floors for gold contracts are located in New York and London, but not in Shanghai. China's financial capital city hopes to upgrade its gold exchange for higher trading volumes and welcome more foreign investors.

"Financial authorities in China are considering measures which would make it easier for foreign investors to participate in the country's largely isolated derivatives market," according to the People's Daily.

It added, "a move which would hasten the integration of the local precious metal market with the global market, Xie Duo, general director of the financial market department at the People's Bank of China, said Monday at the annual London Bullion Market association conference. Xie did not offer a timeline of further details."

The announcement could hint at bigger news in the near future. Shanghai dreams of transforming into a world-class city of finance. However, its stock exchange and commodities markets have been considered 'isolationist', since officials have imposed stringent regulations and quotas on foreign investors.

However, speculation is swirling that Beijing would permit greater leeway for foreigners to get more involved with trading in the derivatives market in the city. A new dawn could be arising for Shanghai and gold markets worldwide.

Sun Yonggang explained that China's financial regulators have been reluctant in the past to open its derivatives markets for overseas investors.

Yet he said, "insulating the market has eroded the global influence of Chinese gold futures. Most contracts of their precious metals in China simply track the movements of supply and demand pressures within the domestic market. But changing a few rules would not be sufficient to attract more foreign investors to the Shanghai Gold Exchange."

At this year's annual London Bullion Market Association, the keynote speaker, Xie Duo addressed specific reforms for the Shanghai Gold Exchange, which could become a boon for foreign investments.

He outlined: Transform gold from a commodity to a financial investment market; transform it from an immediate-delivery to derivative market; and transform China's trading from a domestic to an international market."

The Dubai Chronicle reports that, "twenty-four hour trading is crucial today, the PBOC general director said. So in 2005, the SGE launched its nighttime session to overlap with the afternoon in London's physical market and morning trade in New York's Comex gold futures. Now that period?- from 9 pm-2:30 am?- accounts for a third of total SGE volume. It's particularly welcome for those foreign banks, which have become members of the exchange, starting with HSBC in 2008."

The Shanghai Stock Exchange is opening up at a crucial moment. The European Union sovereign debt crisis remains mired on a fiscal cliff. US federal government deficit spending seems too big too resolve. Accordingly, the global economy may stay sluggish.

A few developed nations?- such as France and Japan?- are struggling with its GDP dropping this year. "Japan's economy shrank by 0.9 percent?in the third quarter, and 3.5 percent?year-on-year, according to provisional GDP figures published Sunday," as reported by the BullionVault Website.

Additionally, President Barack Obama's re-election to the White House signals that his proposals for higher taxes could slow down the US economy and that the Federal Reserve's "Quantitative Easing" measures would continue on unabated. Excess liquidity pouring into the commodities markets could spark higher global inflation rates.

Therefore, investing in gold as a 'safe haven' could bring about higher gold prices. According to BullionVault, "Spot Market gold prices hovered just below $1,738 an ounce on Monday morning in London, close to three-week highs."

Perhaps, a bullish market for gold will prevail and the Shanghai Gold Exchange can take the bull by the horns by implementing much-needed reforms and open its trading floor to more foreign investors.

The views do not necessarily reflect those of China Daily.

Mcgregor@chinadaily.com.cn 

Tom McGregor's previous articles:

ICBC hops into Australia

Samsung eats into Apple's dominance

China wealth fund pivots to Asia

Daunting challenges ahead for Chinese solar companies 

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 岛国av免费在线观看 | 国产精品1000 | 精品一区二区三区av | 伊人综合视频 | 一区二区三区精品在线 | 丰满少妇一级 | 免费观看黄色网 | 国产欧美精品 | 免费毛片a| 国产在线精品一区 | 黄色蜜桃视频 | 天天夜夜久久 | 大地资源二中文在线影视观看 | 91狠狠综合| 久久7777 | √天堂中文官网8在线 | 人人插人人澡 | 精品白浆| 久热精品视频 | 午夜一级视频 | 日韩精品在线免费 | 久久久国产精品一区二区三区 | 成人免费视频国产免费网站 | 一区二区三区有限公司 | 成人黄色免费在线观看 | 国产午夜视频在线 | 久久综合色88 | 免费在线观看成年人视频 | 神马久久影院 | 国产精品欧美精品 | 日韩欧美网站 | 成人精品三级av在线看 | 欧美精品午夜 | 欧美精品免费在线观看 | 日韩在线三区 | 久久精彩免费视频 | 操国产美女 | 亚洲成熟少妇视频在线观看 | 欧美日本免费 | 久久久久久久久久久网站 | 四虎视频国产精品免费 |