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China's gold ETFs raise funds worth $261mn

HuaAn raised 1.21 billion yuan, while Guotai raised about 410 million yuan

July 22, 2013 4:27 IST | India Infoline News Service
China's first two newly launched gold exchange-traded funds have raised a total of 1.6 billion yuan in their first funding round.

China - the second biggest consumer of gold jewellery, bars and coins after India - approved the ETFs last month, giving the go-ahead to HuaAn Asset Management and Guotai Asset Management.

HuaAn raised 1.21 billion yuan, while Guotai raised about 410 million yuan in the first round of funding that closed last Friday, the two companies announced on their websites.

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