NEW YORK, March 1, 2016 /PRNewswire/ -- eBullion's wholly owned subsidiary Man Loong Bullion Company acts in its capacity as an officially designated electronics AA trading member of the Chinese Gold and Silver Exchange Society ("CGSE"). CGSE's goals in 2016 will be promoting the role of Hong Kong as a major gold trading center in the sphere covered by China's "One Belt, One Road" initiative, and together with their business in the Qianhai warehouse, CGSE aims at making China the most important gold market in Asia by building more trading connection with overseas markets.
CGSE is approved by China government to construct a gold bonded warehouse in Qianhai, Shenzhen, which is set to have a storage capacity for 1,500 tons of gold. The warehouse will operate as a sealed-off, tariff-free trading center for gold, in which CGSE members will facilitate trading. It is also hoped that the warehouse will bring greater value to both the economies of Hong Kong and China. Customs gold bonded warehouse that would operate up to 22 hours per day will facilitate the import and export clearance of Gold.
Currently, eBullion's customers are mainly individual investors, with this new gold bonded warehouse in Qianhai, Shenzhen, eBullion will be able to offer gold clearance services for institutional clients in China and other countries in Asia.
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