China launches gold market to bolster fortunes of FTZ

SHANGHAI: China, one of the world's biggest gold consumers, on Thursday launched a new market for trading the precious metal, state media said, as it seeks to attract foreign investors to a year-old free trade zone (FTZ).

The Shanghai Gold Exchange launched an international board in the city's FTZ in hopes that it will eventually challenge global gold markets like New York and London, the official Xinhua news agency reported.