DMCC and China Silver Group Sign MoU

(IDEX Online News) – The Dubai Multi-Commodities Centre (DMCC) and Chinese silver producer China Silver Group Limited have signed a Memorandum of Understanding (MoU) to establish a commodity ownership and financing platform for China's free trade zones.

The MoU has been designed to develop infrastructure to support commodity business activities in China’s Free Trade Zones by utilizing DMCC Tradeflow – a dedicated online platform for registering possession and ownership of commodities stored in UAE-based storage facilities – and the Dubai Gold and Commodities Exchange (DGCX).

China Silver acquired Shanghai White Platinum & Silver Exchange which is licensed to operate in the Shanghai Free Trade Zone, in the hope that it will meet the needs of Chinese and international companies.

"This important initiative underpins China Silver's strategy to become the industry leader and core provider of metals-related warehousing logistics, warrant, and financing services via a highly secured and fully integrated service offering across a broad range of commodities products in China's Free Trade Zones," said China Silver Group CEO Richard Sung.