Hong Kong to Gain as China Streamlines Cross-Border Gold Trade

May 5, 2016

Gold trading between Hong Kong and China is expected to rise with the People’s Bank of China announcing on Wednesday a rule change from June 1 to simplify cross-border shipment procedures that would help speed up gold imports into the country.

Companies that frequently import and export gold and gold products will be allowed to apply for a single permit that can be used for up to 12 shipments, the central bank said in a statement on its website.

China currently has only 15 authorised gold importers, including major banks such ICBC, which need to register every single shipment.

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