The People’s Bank of China has revealed plans to encourage gold trading, as demand for the metal continues to outstrip supply. The central bank wants to attract more players to the bullion market and encourage firms to use renminbi-denominated gold derivatives at the Shanghai Futures Exchange.
Market participants may even be permitted to trade gold contracts on foreign boards of trade, the PBoC said yesterday (Tuesday August 3).
It has developed the plan with several other state agencies:...