The Shanghai Gold Exchange has approved the admission of Hong Kong Precious Metals Clearing System Co., Ltd. as an international member. This move aims to enhance the integration and efficiency of precious metals clearing and settlement processes between mainland China and Hong Kong. The Shanghai Gold Exchange also reported that the China Warehousing Index rose to 50.2% in June, indicating a return to expansion due to increased infrastructure projects and a recovery in manufacturing demand. AI
RANK_REASON Significant industry development involving a major financial exchange and a clearing house. [lever_c_demoted from significant: ic=1 ai=0.1]
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