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China to regulate gold import, export

Updated: Mar 19,2015 9:34 PM     Xinhua

BEIJING — China’s central bank is entitled to impose restrictive examinations on gold and gold production, according to a guideline issued on March 19.

In accordance with macro control, the People’s Bank of China (PBOC) demands that all the gold and gold production listed in the guideline has a certificate issued by the PBOC or its branches for customs clearance.

Only a legal person or organization with no illegal records in the last two years can apply for gold import and export permits, except for charitable donations, according to the PBOC.

The guideline will come into effect on April 1.

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