Gold - New Chinese Products to make it the leading world gold market?

We have long maintained that China’s gold market needs to be developed across the country and not just in the main centers. The elimination of the premium on the gold price ‘in the sticks’ compared to the main centers will evidence that their gold market is maturing. A simple press statement last week from the World Gold Council hides what we expect will bring about countrywide interest in gold right down to the middle-class rural centers.
 “The World Gold Council and the I.C.B.C. will explore and jointly develop new gold investment products tailored to the Chinese market, and conduct surveys and studies on the domestic retail gold investment market, facilitating financial innovation and product diversity.   In addition, W.G.C. & I.C.B.C. Precious Metals Business Department(s) will set up an I.C.B.C. /W.G.C. Gold Business Strategy Board to discuss and plan strategies for their cooperation, as well as an Action Team to oversee the implementation of the decisions and initiatives adopted by the Strategic Group”,

They remain tight-lipped about what these products will be nor do they give out any information on potential products. At the moment the W.G.C. are saying that the partnership came about as a ‘meeting of minds’ between the W.G.C. and the I.C.B.C. and a "shared vision". The products are under development right now.
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