NEWSBREAK - China plans to lift base metal reserves 'appropriately' - State Council

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Meimei Qinmeimei.qin@fastmarkets.com+442072642479

London 16/06/2016 - China plans to increase its reserves of some non-ferrous metals "appropriately" and overhaul the system of stockpiling as carried commercially and officially, according to State Council guidelines posted on its website on Thursday.

The country will conduct trials for commercial stockpiling at businesses in the non-ferrous metals sector and will encourage financial institutions to support such stockpiling, it also said.

Major national bodies such as the Ministry of Finance, the China Banking Regulatory Commission (CBRC), the China Securities Regulatory Commission (CSRC) and the China Insurance Regulatory Commission (CIRC) will be responsible for the broad stockpiling plans, it added.

It did not go into further details and did not set out a timetable for the plans.


(Editing by Mark Shaw)



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