Shanghai imports USD16bn gold as it launches international gold trading board

Shanghai has imported USD15.98bn worth of gold in the first eight months of this year in time for the opening of the international board at the Shanghai Gold Exchange (SGE) in the Shanghai Free Trade Zone.

Last Thursday, two tonnes of gold arrived in Shanghai and was kept in a warehouse with improved customs clearance services. Since the SGE announced in June that it plans to allow foreign investment into China's gold market, gold imports passing through Shanghai's Pudong International Airport went up by 200% month on month. The SGE has been the top gold trading location in the world for 7 consecutive years, with trading volume reaching 11,600 tonnes in 2013

Shanghai imports USD16bn gold as it launches international gold trading board