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DGCX and Chinese Gold and Silver Exchange sign MoU

First Published 12th December 2016

Agreement to meet needs of investors in China and the Indian Sub-continent - two of the world's largest consumers of precious metals.

The Dubai Gold and Commodities Exchange (DGCX) has signed a Memorandum of Understanding with the Chinese Gold and Silver Exchange Society (CGSE) in Hong Kong. The collaboration will help DGCX and CGSE to develop the precious metals markets in Asia and the MENA region.

Steven Chan Sheung Chi, President of the CGSE, said: "CGSE's mission is not only to develop its role as China's offshore hub for precious metals trading but also to strengthen cooperation with ASEAN countries. We have a broad ranging strategy in support of the Belt and Road Initiative that satisfies the demand in Dubai and that will benefit both parties. As Dubai is in the route of the Belt and Road, we shall work together to develop a proprietary product satisfying both parties' need."