This week, the China Banking Regulatory Commission (CBRC) will collect feedback from the general public concerning its move to allow commercial banks to participate in gold futures trading. This signifies that with financial institutions expanding its presence in futures trade, the futures market will play an increasingly important role in China's financial system.
As a prospective player in the gold futures market, commercial banks will expand their service scope and help narrow the gap between domestic and foreign gold prices.
In addition, with other financial futures such as index futures to be tradable in the future, the Chinese futures market will have multiple players from the financial field such as banks, securities brokers, fund management companies and assets management firms.
For more details, please read the full story in Chinese. (http://news.xinhuanet.com/fortune/2008-02/03/content_7561320.htm)
(China.org.cn February 4, 2008)