Recently SGE held “China Gold Market Summit (CGMS) Forum 2016”. This forum intends to strengthen the integration and healthy development of global gold markets, and further promote the internationalization of China’s gold market and a global win-win outcome.
Jiao Jinpu, Chairman of SGE hosted the forum opening ceremony. He pointed out that the launch of Shanghai Gold Benchmark Price will provide the global investors to share the opportunities of China gold market, and facilitate the development of global gold market system in balance. Currently, China’s economy is stabilized and accelerated which provides a great opportunity to boost the development of China’s gold market.
Domestic and foreign investors’ increasing demand of optimizing investment portfolio offers great potential and vast space for the development of China’s gold market. Under the guidance of the People’s Bank of China, SGE will continue to cooperate closely with market participants and create favorable conditions for mutual integration and development, promoting healthy development of gold market.
XuZhong, Deputy General Director of the Financial Market Division of the People’s Bank of China , Ba Shusong, Chief China Economist of Hong Kong Exchanges and Clearing Limited, Song Xin, Chairman of China Gold Association, Pang Xiusheng, Executive Director of China Construction Bank, Jeremy East, Head of Metal Trading & Commodities from Standard Chartered Bank, Sunil Kashyap, Head of Asia-Scotia Mocatta attended.
Paul Wilson, CEO of World Platinum Investment Council also attended this forum and respectively delivered speeches on New Stage of China’s Economy and New Structure of the 13th Five-Year Plan, The Opportunity and Challenge of China’s Gold Industry, The Characteristic and Function of Commercial Bank in Gold Market, The Development and Cooperation in Global Gold Market, The Trend of Global Sliver Market and the China Factor, and The Development of Platinum Market from a Financial Perspective.
The panel discussion of “Shanghai Gold Benchmark Price and Global Gold Market” was hosted by Shen Gang, Deputy General Manager of Shanghai Gold Exchange. She mentioned that the opening up and integration of global gold markets provide a great opportunity for China’s gold market to connect with global markets and promote the internationalization.
SGE strives to develop products and services which fulfill the needs of international investors; the launching of Shanghai Gold Benchmark Price will provide an international trading platform to investors worldwide and further enhance the liquidity and allocation of the gold resource across the world.
Grant Angwin, Chairman of London Bullion Market Association, Aram Shishmanian, CEO of World Gold Council, Derek Sammann, Senior Managing Director of CME Group, Dong WeiJian, President of Bank of China, Shanghai RMB Trading Unit, Gautam Sashittal, CEO of Dubai Multi Commodities Centre and Zhang XinFan, Managing Director of China Securities Co., Ltd participated in this panel.
Focusing on “Shanghai Gold Benchmark Price and Global Gold Market”, the panelists shared the opinions under different topics including ‘the importance of “Shanghai Gold” for foreign investors to be participated in China’s gold market’, ‘the successful experience and achievements of market opening up and product innovation’, ‘how to explore the sustainable development of the future global gold market’, and ‘the integration and innovation of the global gold markets’.
Song Yuqin, Deputy General Manager of SGE hosted the discussion on the topic of “The Internationalization and Global Win-Win of China’s Gold Market”. He mentioned that, the implementation of national gold development strategy has created a favorable condition for the development of domestic gold market. The smooth progress of RMB internationalization and continuous reform and the opening-up of China’s financial system bring both opportunities and challenges to China’s gold market.
With the progress of the RMB Internationalization, the expanding of Yuan-denominated products, and financial instrument innovations, there will be more development potential and space for the China’s gold market.
Paul Walker, Head of Global Precious Metals of HSBC, Peter Smith, Managing Director of Global Physical Market of JP Morgan, Philip Hurley, CEO of ICBC Standard Bank PLC (Asia), Li Guohong, President of Shandong Gold Group Co., Ltd, Marwan Shakarchi, CEO of MKS (Switzerland) SA joined the topic.
John Levin, Global Head of Metal Sales of Australia and New Zealand Banking Group, shared their points of view focusing on the topic of the “The Internationalization and Global Win-Win of China’s Gold Market” with in-depth discussion on the challenges of China’s gold market in the internationalization process, the opportunities in the accelerated integration and development of global gold markets and the vision of the future development trend of the global gold market, while to achieve the interconnection between the products and services of the global gold market.
China Gold Market Summit Forum is an international gold market summit held by SGE, aiming to gather global industry leaders, famous financial experts, domestic and foreign institutions, major financial media, using the platform to convey market information, share knowledge and insights, which will contribute to the prosperity and development of China and global gold market.