Hunan South Precious Metal Exchange, the first one of its kind across the country, opened for business in Yongxing County of Chenzhou City, the “Capital of Silver” on June 28.
Mayor of Chenzhou Xiang Lili, Head of the Xinhua News Agency (Hunan) Zou Yun, Vice President of Huaxia Bank Yun Mingqing were present at the opening ceremony.
At the opening ceremony, the exchange signed cooperation agreements with Xinhua News Agency, China Construction Bank and Huaxia Bank. As stipulated, each bank will grant a credit line of 5 billion yuan to the exchange and its clients so as to facilitate enterprises' financing.
With an investment of 260 million yuan, it covers an area of 189 mu (12.6 hectares). It specializes in the over-the-counter trading, delayed trading and other mid and long-term screening trading of crude non-ferrous metal, precious metal and finished products.
Translator: Xie Jingjing