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China c.bank issues draft guidelines for online gold business -exchange

BEIJING, May 9 (Reuters) – China’s central bank has issued draft guidelines for online gold business that require firms to register with the bank when they sell the precious metal, according to a document published by the Shanghai Gold Exchange.

The draft guidelines, which were published on the exchange’s website on Tuesday, said online gold firms’ registered capital cannot be less than 30 million yuan ($ 4.71 million) and that the companies must fully disclose investment risks.

$ 1 = 6.3690 Chinese yuan renminbi Reporting by Beijing Monitoring D…
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