China Merchants Bank to Discontinue "Fortune Gold" Service After July 2026

Deep News06-26 18:51

China Merchants Bank has announced an adjustment to its agency business for personal precious metals trading on the Shanghai Gold Exchange, known as the "Fortune Gold" service.

In a statement issued on June 26, the bank stated it will cease this service at an appropriate time after July 27, 2026.

Consequently, trading permissions for the agency business will be disabled across all channels, including mobile banking, online banking, and branch counters.

Following the closure, clients holding positions will face restrictions on operations such as closing positions, selling holdings, and taking physical delivery of the metals.

The bank cited ongoing risk management and operational requirements for precious metals as the reason for this adjustment.

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