Chongqing municipality signed a cooperation agreement with Shanghai Gold Exchanges on June 1 to strengthen its gold industry.

According to the agreement, the two sides will promote the construction of a gold industry chain in Chongqing. Municipal authorities will take advantage of its geographical location and the country's Belt and Road Initiative to construct itself into a gold trade center in China's Southwestern regions.

Mayor of Chongqing, Huang Qifan, pointed out at the signing ceremony that the municipality has put a strong emphasis on the development of its financial industry in recent years. He added that the city has also made efforts to foster a good environment to promote its financial industry, and strengthened the supervision of its financial industry.

Edited by Jacob Hooson