CHINESE BILLIONAIRE BETS $300M

CHINESE BILLIONAIRE BETS $300M ON SILVER COLLAPSE

Bian Ximing, a low-profile Chinese trader who made nearly $3 billion from bullish gold trades, has placed the Shanghai Futures Exchange’s largest net short bet on silver, now worth about $300 million.

His short position totals roughly 450 tons (30,000 contracts). Silver’s recent 16% drop has boosted his paper gains, though he faced some losses amid market volatility. Including past trades, Bian’s net profit is estimated at around 1 billion yuan.

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