“China has granted licenses to import gold to two foreign banks for the first time, sources said, as moves to open the world’s biggest physical bullion market gather pace.  The granting of new licenses is the latest in a string of steps by China to ease restrictions on bullion trading and boost market accessibility.  China approved its first gold-backed exchange-traded funds last year and extended trading hours on the futures exchange. The central bank issued a draft policy document in September that proposed letting more banks import and export gold. The move also comes as the SGE plans to launch gold futures in the city’s pilot free trade zone this year that would be open to foreign investors.”

http://www.nytimes.com/reuters/2014/01/15/business/15reuters-chinagold-banks.html?_r=0

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