China's bullion market is a model for globe, says WGC

China's gold market is one of the most transparent and regulated on the globe and should be the model of what the rest of the world should look up to, said industry experts.

As the newly appointed CEO of the World Gold Council in February, David Tait said what impressed him during a China tour was how regulated and transparent the market was in China.

Commenting on the Shanghai Gold Exchange's effort to promote renminbi-dominated gold benchmark prices, Tait said he believed the Shanghai Gold Exchange and the China market setting the standard for the world to establish further transparency and further benchmark pricing of a high standard.