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What is the gold exchange?
The full name of the Gold Exchange is the Gold Exchange, and there is only one gold exchange in Chinese mainland, namely the Shanghai Gold Exchange. Shanghai Gold Exchange is the only state-level trading place legally engaged in precious metals trading, which is approved by the State Council, established by the People's Bank of China and registered by the State Administration for Industry and Commerce.

The Exchange adopts the form of membership organization, and its members are composed of financial institutions registered in People's Republic of China (PRC) and engaged in gold business, enterprise legal persons engaged in the production, smelting, processing, wholesale, import and export trade of precious metals such as gold, silver and platinum, and units with good credit standing.

At present, there are 162 members scattered in 26 provinces, municipalities and autonomous regions. Shanghai Gold Exchange is the largest spot gold exchange in the world. By the end of 20 1 1, its total transaction amount was 4.44 trillion yuan.

Standard gold and platinum transactions are conducted through centralized bidding by the exchange, giving priority to price and time. Non-standard varieties are carried out by means of inquiry. , the implementation of independent quotation, independent negotiation. Members can choose to conduct transactions on-site or remotely.

The exchange mainly implements standardized matchmaking transactions. Trading hours are from Monday to Friday (excluding holidays) from 9:00 am to afternoon 15:30 pm 19:50-2:30 pm. The commodities of the exchange include gold, silver and platinum. Gold has four spot trading varieties of Au99.95, Au99.99, Au50g and Au 100g, and Au(T+5), Au(T+D) and Au(T+N 1) and Au(T+N2) are two deferred trading varieties. Silver has Ag99.9, Ag99.99 spot firm trading varieties and Ag(T+D) spot margin trading varieties; Platinum has Pt99.95 spot real trading varieties; Bank of China, Agricultural Bank of China, Industrial and Commercial Bank of China, China Construction Bank, Shenzhen Development Bank, Industrial Bank and Huaxia Bank, as the clearing banks designated by the Exchange, implement the principle of centralized, direct and net fund settlement.

The physical delivery of the exchange implements the delivery principle of "one household, one yard system", and 55 designated warehouses are set up in 37 cities across the country, and gold ingots and bars are uniformly dispatched and distributed by the exchange.

The establishment of Shanghai Gold Exchange, together with money market, securities market and foreign exchange market, constitutes a complete financial market system in China. In the future, under the leadership of the People's Bank of China, the Exchange will, as always, keep pace with the times and make greater contributions to the prosperity of the gold market in China.