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New ATMs will dispense gold
Source: Xinhua |
September 28, 2011, Wednesday
|
Print Edition
Print Edition
BUYING gold bullion as easily as buying a can of soda is soon to become a reality when China's first gold-vending machine opens to the public in Beijing during next month's National Day holiday.
The machine, installed in Beijing's Wangfujing shopping center, will allow people to withdraw gold bars of varying weight with cash or bank cards, according to Zheng Rui-xiang, president of Gongmei Gold Trade, which has introduced the gold dispenser.
He said: "It introduces a new gold business model in China, which has a traditionally affectionate bond with gold, as well as a modern way to embrace soaring investment demand."
With a shape similar to ATMs, the shiny gold machine features a touch screen as well as cash and bank card slots. It contains 320 bars, 10 pieces of 24k bullion and coins.
The maximum for each transaction has been set at 2.5 kilograms, or 1 million yuan (US$156,189) based on the current gold price.
Zheng added: "Advanced anti-counterfeiting technologies have been implemented on each gold bar or coin, which feature a unique ID number and an image for identification, and have been authorized by the General Administration of Quality Supervision, Inspection and Quarantine."
He said China's first gold dispenser is in the final process of debugging. If everything goes well, it will begin operating during the National Day holiday, starting October 1.
The machine, installed in Beijing's Wangfujing shopping center, will allow people to withdraw gold bars of varying weight with cash or bank cards, according to Zheng Rui-xiang, president of Gongmei Gold Trade, which has introduced the gold dispenser.
He said: "It introduces a new gold business model in China, which has a traditionally affectionate bond with gold, as well as a modern way to embrace soaring investment demand."
With a shape similar to ATMs, the shiny gold machine features a touch screen as well as cash and bank card slots. It contains 320 bars, 10 pieces of 24k bullion and coins.
The maximum for each transaction has been set at 2.5 kilograms, or 1 million yuan (US$156,189) based on the current gold price.
Zheng added: "Advanced anti-counterfeiting technologies have been implemented on each gold bar or coin, which feature a unique ID number and an image for identification, and have been authorized by the General Administration of Quality Supervision, Inspection and Quarantine."
He said China's first gold dispenser is in the final process of debugging. If everything goes well, it will begin operating during the National Day holiday, starting October 1.
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