Post by Lupo on Oct 19, 2011 8:21:26 GMT 4
Hong Kong has become the world's first place to offer gold trading in yuan, cementing its status as an offshore hub for the Chinese currency.
The Chinese Gold & Silver Exchange Society (CGSE) said it will offer offshore renminbi-denominated spot gold contracts to investors.
The move comes amid a push by Chinese authorities for a more international role for its currency.
Hong Kong is the world's third-largest gold trading centre.
The Chinese Gold & Silver Exchange Society (CGSE) said it will offer offshore renminbi-denominated spot gold contracts to investors.
The move comes amid a push by Chinese authorities for a more international role for its currency.
Hong Kong is the world's third-largest gold trading centre.