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The Shanghai Gold Exchange, the only exchange of its type in China, for the first time yesterday teamed up with a domestic firm to provide real-time trading information to investors.
Domestic investors can see real-time transaction prices for gold and platinum through Shihua Financial Information, an information platform owned by Shihua Financial Information Co .
Shihua was established in Beijing a decade ago and has already established 26 branches around the country.
"We hope that through Shihua's nationwide network, domestic investors can check quotations on the exchange in time," said Yin Mingyan, vice general manager of the Shanghai Gold Exchange. "This can help them to make the right decision to invest in gold after obtaining the first-hand information."
We hope that Shihua can be a channel to help investors learn about gold transactions, said Zhao Liang, chairman of Shihua Financial Information.
Last month, individual investors were allowed to trade gold for the first time on the Chinese mainland since the establishment of the People's Republic of China in 1949.
With a weak US dollar, gold's safe-haven status has attracted more investors this year.
A weaker US dollar makes dollar-priced gold less expensive for holders of other currencies and investors who are wary of investing in the US currency may purchase the precious metal.
(Shanghai Daily December 19, 2003)
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