To meet increasing demand, the Hong Kong Mercantile Exchange will start offering renminbi-denominated gold products.
The president of exchange, backed by ICBC, says gold futures denominated in yuan will trade by the end of this year. The move follows a similar plan by the SAR's China Gold and Silver Exchange Society, to be put into action from this month.
It's the latest of a string of renminbi-denominated products to hit the markets in Hong Kong, as the city positions itself as the mainland's offshore currency center.
