Recently, the Shanghai Gold Exchange reported that Jiao Jinpu, Chairman of the Shanghai Gold Exchange, stated that with the overarching goal of building a world-class, comprehensive gold exchange, the exchange will steadfastly implement a development strategy centered on “marketization and internationalization,” providing high-quality services to support the development of the national economy and meet the investment needs of residents.

　　He said that China’s gold market has four key characteristics: First, its market structure is relatively complete. China’s gold market features a “triad” market structure with clearly defined layers and distinct focuses, enabling it to better meet the diverse market demands of various types of investors.

　　Second, the types of participants are diverse. Commercial banks, industrial and commercial enterprises, futures firms, securities companies, trust companies, and various specialized investment firms are all key participants in the two on-exchange markets. Additionally, there are also member agents acting on behalf of clients, intermediaries providing customer services, and supporting institutions.

　　Third, it is closely linked to the real economy and the gold industry. China is the world’s largest producer, consumer, and importer of gold. As the market-oriented reform of the gold sector progresses, establishing a market-oriented, unified, and efficient trading platform will help enhance trading and production efficiency, thereby better serving both the gold industry and the development of the national economy.

　　Fourth, the functions of investment and risk diversification have been further enhanced. In recent years, both the trading volume of China’s gold market and its share in the financial market system have steadily increased. Various financial institutions, other non-financial institutions, and a broad range of investors have begun to place greater importance on participating in gold investments, and the gold market’s role in investment and risk diversification has become increasingly sophisticated.