China central bank says will restrict gold trade when required

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China will impose restrictions on the import and export of gold and gold products in accordance with macroeconomic requirements, the country's central bank said on Thursday. 

PHOTO: AFP

19 Mar6:33 PM

[BEIJING] China will impose restrictions on the import and export of gold and gold products in accordance with macroeconomic requirements, the country's central bank said on Thursday.

"The People's Bank of China can carry out restrictions of gold and gold product imports and exports in accordance with the requirements of national macroeconomic adjustments," the bank said in new trade regulations published on its website.

It also said that firms engaging in gold imports and exports bear a responsibility to maintain a balance in supply and demand on the domestic market, and trades need to be registered with gold exchanges approved by the State Council, China's cabinet.

REUTERS