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China's ICBC says keen on joining London gold price benchmark

Reuters - UK Focus

SHANGHAI, June 25 (Reuters) - Industrial and Commercial Bank of China Ltd (ICBC (Shanghai: 601398.SS - news) ) is interested in participating in the London gold price benchmarking process, a company official said on Thursday.

"ICBC is very keen on participating," Zhou Ming, general manager of the bank's precious metals department said at the LBMA Bullion Market Forum in Shanghai.

Last week, the London Bullion Market Association said the Bank of China (Shanghai: 601988.SS - news) would become the first Chinese bank to participate in the electronic platform that sets the gold price benchmark. (Reporting by A. Ananthalakshmi; Editing by Joseph Radford)