Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: tradermike_1999 who started this subject	5/22/2002 6:20:48 AM
From: rolatzi	of 74559

DJ. CHINA PRESS: Gold Exchange To Open In June In Shanghai futuresource.com This one's for Jay Chen. I have been waiting for this event for several months. You should too. The opening of gold trading in China should cap any correction in gold. That way we can sell all of our holdings to the Chinese since gold is crap. <i/> SHANGHAI (Dow Jones)-- The long-delayed open of China's gold exchange will take place before the end of June in Shanghai, the Shanghai Daily reports, quoting the head of the Shanghai Gold Exchange. "I can promise that the exchange will open before the end of June, though much work has still to be done to make sure everything runs smoothly," said Wang Zhe, head of the exchange, according to the report. He said that the "government has verbally agreed not to apply a 17% value-added tax on our dealers," which the Shanghai Daily reports as being the last big obstacle to starting up the gold exchange. The gold exchange's first members will be 108 mining companies, processors, and commercial banks, reports the newspaper. Newspaper Web site: shanghaidaily.com -By China Bureau, Dow Jones Newswires; (8621) 6218-3268; djnews.shanghai@dowjones.com

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