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HK to launch RMB gold products

(Cntv.cn)
Updated: 2011-05-12 16:42

To meet increasing demand, the Hong Kong Mercantile Exchange will start offering renminbi-denominated gold products.

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The president of exchange, backed by ICBC, says gold futures denominated in yuan will trade by the end of this year. The move follows a similar plan by the SAR's 皇冠体育app Gold and Silver Exchange Society, to be put into action from this month.

It's the latest of a string of renminbi-denominated products to hit the markets in Hong Kong, as the city positions itself as the mainland's offshore currency center.