HSBC Joins Shanghai Futures Exchange
By Feng Jianmin |
01:23 UTC+8 July 30, 2011
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Print Edition
Print Edition
HSBC Bank Co yesterday became the first foreign bank to be granted access to China's gold futures market as it received approval to be a member of the Shanghai Futures Exchange.
David Liao, managing director, treasurer and head of global markets at HSBC China, said: "China is an important producer, user and investor of gold. We look forward to playing a greater contributing role in the development of China's fast-rising gold market, where we see vast growth potential."
HSBC China was one of the first foreign banks to join the Shanghai Gold Exchange in February 2008, and became the first foreign bank to start gold trading in June 2008. The bank is currently the largest foreign bank on Chinese mainland in terms of outlets.
David Liao, managing director, treasurer and head of global markets at HSBC China, said: "China is an important producer, user and investor of gold. We look forward to playing a greater contributing role in the development of China's fast-rising gold market, where we see vast growth potential."
HSBC China was one of the first foreign banks to join the Shanghai Gold Exchange in February 2008, and became the first foreign bank to start gold trading in June 2008. The bank is currently the largest foreign bank on Chinese mainland in terms of outlets.
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