On August 11, 2011, the first phase of the high-end interview of the “Focus on the Golden Decade Market Development†series, which was exclusively planned by the Golden Channel of Hexun, was specially invited to Mr. Liu Shanen, expert committee of the Beijing Gold Economic Research Center. He mentioned that the current Chinese gold market is no longer a concept of a market, but formed a market system composed of multiple markets. How to transition from a one-member leadership structure to a multiple leadership structure is a bottleneck in the current reform of the gold market. How to effectively solve it is an important role for the future development of the Chinese gold market.
Recommended reading [hot] US employment data to improve risk appetite Gold fell more than 40 US dollars to guard against falling gold risk From October 2002, the official operation of the Shanghai Gold Exchange, the development of the Chinese gold market has gone through a decade of development. Although on the surface it seems to be developing rapidly, the development is very tortuous. The reason why China's gold market reform is based on gold commodities as the guiding ideology, because it has become a commodity, so it is necessary to engage in market-oriented reforms. The positioning of the Shanghai Gold Exchange is the spot spot trading market. The gold marketization reform we promote is the reform of the gold market circulation system. However, such a position is actually incomplete. Now, more than 97% of the international gold market is the amount of financial transactions generated by financial investors. It is not due to commodity trading. Trading volume is a matter of priority, and positioning is problematic. Therefore, in 2002, the day the Shanghai Gold Exchange was operated, the then Governor of the People's Bank of the People's Bank of China clearly stated that the Shanghai Gold Exchange should further develop its investment products to the financial market after completing this initial reform task. In the transformation, the real gold financial market construction began in 2004. At that time, the four major state-owned commercial banks were approved to carry out gold business. In 2004, the Shanghai Gold Exchange also launched T+D trading products on the basis of spot transactions. This is an investment-oriented product.
At the beginning, the second step of financial market development was to develop the ** market. At that time, one knew that thought was a unified approach, and the spot market could also do forward transactions. However, from the perspective of the development orientation of the international gold market, this is problematic, because the two markets of the international gold market are divided, the ** market is the main speculative market, the physical gold market is the trading market, and the two markets are divided. Set up. After some ups and downs, the Chinese gold market realized the online transaction in the Shanghai ** Exchange in 2007 and actually achieved the separation of the ** and spot markets. The introduction of the gold business of the four state-owned commercial banks in 2004 means that the Chinese gold market is no longer a concept of a market, but has formed a market system composed of multiple markets. This development brought about by the development of this market system led to an increase in variety, an increase in the number of investors, and an increase in the size of transactions. However, it also poses additional challenges to the management department. How to transition from the one-member leadership structure to the multiple leadership structure has now not seemed to be resolved. This is a bottleneck in the current reform of the gold market, so we can see that On the one hand, China's gold market has flourished, but there are also many problems. These problems are not solved quickly, because we have not solved this basic bottleneck.
Recommended reading [hot] US employment data to improve risk appetite Gold fell more than 40 US dollars to guard against falling gold risk From October 2002, the official operation of the Shanghai Gold Exchange, the development of the Chinese gold market has gone through a decade of development. Although on the surface it seems to be developing rapidly, the development is very tortuous. The reason why China's gold market reform is based on gold commodities as the guiding ideology, because it has become a commodity, so it is necessary to engage in market-oriented reforms. The positioning of the Shanghai Gold Exchange is the spot spot trading market. The gold marketization reform we promote is the reform of the gold market circulation system. However, such a position is actually incomplete. Now, more than 97% of the international gold market is the amount of financial transactions generated by financial investors. It is not due to commodity trading. Trading volume is a matter of priority, and positioning is problematic. Therefore, in 2002, the day the Shanghai Gold Exchange was operated, the then Governor of the People's Bank of the People's Bank of China clearly stated that the Shanghai Gold Exchange should further develop its investment products to the financial market after completing this initial reform task. In the transformation, the real gold financial market construction began in 2004. At that time, the four major state-owned commercial banks were approved to carry out gold business. In 2004, the Shanghai Gold Exchange also launched T+D trading products on the basis of spot transactions. This is an investment-oriented product.
At the beginning, the second step of financial market development was to develop the ** market. At that time, one knew that thought was a unified approach, and the spot market could also do forward transactions. However, from the perspective of the development orientation of the international gold market, this is problematic, because the two markets of the international gold market are divided, the ** market is the main speculative market, the physical gold market is the trading market, and the two markets are divided. Set up. After some ups and downs, the Chinese gold market realized the online transaction in the Shanghai ** Exchange in 2007 and actually achieved the separation of the ** and spot markets. The introduction of the gold business of the four state-owned commercial banks in 2004 means that the Chinese gold market is no longer a concept of a market, but has formed a market system composed of multiple markets. This development brought about by the development of this market system led to an increase in variety, an increase in the number of investors, and an increase in the size of transactions. However, it also poses additional challenges to the management department. How to transition from the one-member leadership structure to the multiple leadership structure has now not seemed to be resolved. This is a bottleneck in the current reform of the gold market, so we can see that On the one hand, China's gold market has flourished, but there are also many problems. These problems are not solved quickly, because we have not solved this basic bottleneck.
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