Shanghai in front rank of world gold trading 
(www.chinamining.org)
Updated:
2006-11-27 08:42
Counter:
The Shanghai Gold Exchange in China's economic hub reported continuing robust performance with more than 3,000 tons of gold changing hands over the past four years.
Shen Xiangrong, chairman of the board of the Exchange, revealed the cumulative transaction volume at a two-day national gold investment summit that concluded on November 24.
The establishment of the Exchange in 2002 put an end to China's decades' long centralized distribution and management of the precious metal.
The volume of gold traded on the Exchange has increased by more than 200 tons in each of the past four years. By the end of October, 3,075 tons of gold had been traded on the Exchange for 383.3 billion yuan (48.6 billion U.S. dollars).
Between January and October, 989.76 tons of gold changed hands, a growth of 37.5 percent year-on-year. Transaction value soared 84.9 percent to 153.6 billion yuan (19.5 billion U.S. dollars).
Gold trading volume for the whole year is likely to reach 1,200 tons, Shen predicted.
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