Shanghai Boosts Global Asset Hub, Expands Gold Market Openness and "Shanghai Gold" Influence

The General Office of Shanghai Municipal People's Government recently released "Several Opinions on Deepening the Development of Shanghai as a Global Asset Management Center." The key policies related to the gold market are as follows:

(3) Enhancing the Influence of "Shanghai Price"

Promote the authorization of commodity futures settlement prices to more overseas exchanges, support the "going global" of delivery services, continuously enhance the reach of benchmark prices for commodities and gold, and expand application scenarios for "Shanghai Gold."

(13) Facilitating Allocation Channels at Home and Abroad

Steadily expand institutional opening-up of the gold market, and support cooperation between the Shanghai and Hong Kong gold markets.