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Shenzhen: Enterprises Must Not Engage in Illegal Gold Trading Activities
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The recent collapse of the online gold trading platform "Jie Wo Rui" (literal translation of "杰我睿") in Shuibei, Shenzhen, sparked public attention. The Shenzhen Local Financial Supervision Bureau issued a public warning that enterprises must not engage in illegal gold trading activities such as unauthorized gold pricing transactions, leveraged trading, and deferred trading. These activities include using internet platforms like WeChat groups, mini-programs, apps, and websites under the guise of gold recycling and pre-pricing transactions, allowing customers to pay a certain amount of deposit to lock in the price of a certain weight of gold, and then settle based on price differences as gold prices fluctuate, allowing for position closing without actual physical gold delivery. Moreover, enterprises must not engage in illegal fundraising activities under the guise of gold custody, leasing, and repurchase agreements that promise fixed income returns with "principal protection and interest payment". They must not conduct illegal gold entrusted investment activities, such as inducing consumers to purchase physical gold and then not extracting the physical gold but instead engaging in gold entrusted investment. AASTOCKS Financial News Website: www.aastocks.com |
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