Last Updated :
19 May 2009 at 11:35 IST
WGC plans to introduce gold ETF in China
Commodity Online BEIJING: The World Gold Council is planning to set a gold exchange traded fund (ETF) in China’s mainland with the cooperation of its Chinese partners.
According to WGC Chinese Manager Wang Lixin, gold ETF is an answer to the natural call of China in order to utilize the vast opportunity of diversifying its gold investment channels.
However he evaded from saying which specific exchange in China's mainland will introduce the product but said that gold ETFs are a common product traded at stock exchanges overseas.
Enter Currency Trading Contest now. Win $ 25,000Wang declined to give a timetable for the launch of a gold ETF, which is already traded in Hong Kong, on the Chinese mainland.
Shanghai earlier unveiled measures to build up the city as a major financial hub by 2020, including the introduction of more derivatives, which might involve a gold ETF.
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