More lenders get green light to import gold

China is moving to gain more pricing power in the global gold market, allowing more banks to import the metal and starting an international board at the Shanghai Gold Exchange.

Shanghai Pudong Development Bank Co Ltd and China Mer-chants Bank Co Ltd said that they received approval earlier this month to import gold. Reuters had reported that Standard Chartered Plc has also been cleared for imports, although the bank declined to comment.

With these three, China would have 15 banks that may import gold.