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[In fact, the gold exchanges that were closed this year were "licensed institutions" in the past, that is, they once had relevant business qualifications, but their business qualifications were revoked in batches this year. While closing the last batch of financial asset trading venues, local financial regulatory authorities are also reminding and continuously cracking down on "fake gold exchanges."]

Recently, another batch of local financial asset exchanges have been shut down. Financial management departments in Jiangsu, Anhui, Hubei, Guizhou, Dalian and other places have issued documents announcing the cancellation of relevant business qualifications of a total of 5 financial exchanges in their respective jurisdictions.

According to incomplete statistics from China Business News, a total of 25 local gold exchanges have had their business qualifications revoked this year, and 19 provinces have clearly achieved zero financial asset trading venues. Currently, some gold exchanges are still clearing their existing businesses, such as the Beijing Financial Assets Exchange.

There are reports in the industry that the State Financial Supervision and Administration Bureau, the China Securities Regulatory Commission, the State Administration for Market Regulation and other three departments jointly issued the "Notice on Further Strengthening the Supervision of Local Financial Organizations" (hereinafter referred to as the "Notice") this year.

An industry insider who is familiar with the relevant content revealed to China Business News that the "Notice" clearly states that four types of institutions must be disposed of in an orderly manner, which includes closing all existing financial asset trading venues and resolutely cleaning up "fake financial exchanges."

Gold exchanges are becoming history

Since the beginning of this year, four batches of local gold exchanges have been closed down across the country.