This newspaper reports. Reporter Wen Jicong reports: 10 Moon 28 Day, the Shanghai Gold Exchange (hereinafter referred to as “ Gold Exchange ” ) signed the “Shanghai Gold Benchmark Price Licensing Agreement” with the Dubai Gold & Commodities Exchange in Shanghai. With this, “ Shanghai Gold ” A substantive step toward internationalization has been taken.

Jiao Jinpu, Chairman of the Gold Exchange, stated that the Shanghai Gold Exchange is actively promoting its internationalization process. 2014 In [year], the International Board was launched, opening a channel for overseas investors to participate in the Chinese gold market. 2016 Year 4 Month, launch “ Shanghai Gold ” Centralized pricing business. This authorization is granted to the Dubai Gold & Commodities Exchange for use. “ Shanghai Gold ” The benchmark price is... “ Shanghai Gold ” Its first application in the international financial market helps facilitate the mutual exchange of resource advantages between the financial markets of the two regions. Meanwhile, Dubai is... “ The Belt and Road ” Key nodes along the route will also help jointly build a link connecting the gold markets of East and West.

The CEO of the Dubai Gold & Commodities Exchange stated that China is one of the world’s leading gold markets. The Shanghai Gold Futures contract, developed by the Dubai Gold & Commodities Exchange using this benchmark price, will not only create more investment opportunities for market participants in Dubai but also attract more international investors to trade in the Dubai market. This represents a significant milestone for the Dubai Gold & Commodities Exchange.

Yu Guiying, general manager of Beijing Taiyang Gold Store, told a reporter from the Economic Daily that for a long time, the spot gold market has been centered in London, while the gold futures market has been centered in New York. With China’s gold demand growing rapidly, “ Westward shift of the Jin dynasty ” It is in the early stages of formation, but previously, RMB-denominated gold derivatives overseas remained a blank space, and foreign gold and precious metals exchanges still lacked such products. “ Shanghai Gold ” Products priced based on settlement benchmarks. Internationally, gold swap contracts and forward contracts mostly use... “ London Gold ” Settlement for gold derivatives is primarily conducted in U.S. dollars. This signing marks the beginning of the use of overseas exchanges... “ Shanghai Gold ” As a pioneering benchmark for settlement, overseas RMB-denominated gold derivatives will— “ Shanghai Gold ” The price serves as the settlement benchmark, and increasing the frequency of RMB usage overseas has led to an increase. “ China factor ” The gold pricing and right of use.

In the view of Shen Yang, a gold analyst at the Mingfu Financial Research Institute, for the renminbi to attain a status in the international market that rivals that of the U.S. dollar and the euro, it needs to build up sufficient reserves of gold and silver to underpin its international standing. Therefore, only by gaining international influence over gold prices can the renminbi achieve true internationalization.

According to the introduction, the Gold Exchange is... 2016 Year 4 Moon 19 Today, the world’s first gold benchmark price denominated in RMB was released. —— Shanghai Gold Benchmark Price. “ Shanghai Gold ” Pricing business refers to, on the Gold Exchange platform, the practice of... 1 Kilograms, with a fineness of no less than 99.99% The standard gold ingots are the trading objects, denominated in RMB. / The k is the trading unit, conducted through multiple rounds. “ Price-driven demand ” The centralized trading method, after achieving a relative balance between market volume and price, ultimately forms... “ Shanghai Gold ” RMB benchmark price. As of 2016 Year 9 At the end of the month, “ Shanghai Gold ” Cumulative Transactions 384.26 ton, with a transaction amount of 1054.52 100 million yuan.