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China: Central bank to rule domestic gold product shipments

The central bank said on Thursday that the some types of gold and gold product shipments would require its permission.

The People’s Bank of China (PBOC) and General Administration of Customs jointly announced the rule, which was effective immediately. No reason was given for the move. The circular listed more than 10 kinds of gold-based compounds, including gold potassium cyanide. Most domestic shipments, including those from free trade zones, export processing zones and areas under the special supervision of customs were included in the rule, but most foreign trade shipments were excluded.

China produced 270.29 tons of gold last year, up 12.67% from 2006, which made it the world’s second largest bullion producer after South Africa, statistics from the China Gold Association showed earlier this week. (