PBOC gives green light to FTZ gold plan

The Shanghai Gold Exchange's international bullion trading platform will be included in the banking system for the city's free trade zone, the People's Bank of China said last week.

The exchange has signed agreements with the Industrial & Commercial Bank of China, China Construction Bank, and the Shanghai branches of the Bank of China and Shanghai Pudong Development Bank.

Investors who meet the necessary requirements can open free-trade accounts with these four lenders to transact gold in the zone.