Chinese Banks Raise Personal Precious Metals Margin to 140% on June 24, Curtail Leverage Trading

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According to China Securities Journal, on June 24, the Industrial and Commercial Bank of China announced plans to suspend its agency services for personal precious metals competitive trading on the Shanghai Gold Exchange. Since June, approximately 10 major Chinese banks, including Huaxia Bank, China Guangfa Bank, and Bank of China, have adjusted margin requirements for personal precious metals deferred contracts, with some raising margins to 140%.
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