China to ease gold trade restrictions - Central bank

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Publish time: 8th October, 2013      Source: ChinaCCM
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Reuters reported that China's central bank is planning to increase the number of firms allowed to import and export gold and will also ease restrictions on individual buyers of the precious metal.

The People's Bank of China said that the new rules would allow bank members of the Shanghai Gold Exchange as well as gold producers with an annual output of more than 10 tonnes to apply for import and export licenses. Trade is currently restricted to just nine banks.