China Merchants Bank Halts 'Zhaocai Gold' Personal Precious Metals Service on July 27

According to an announcement by China Merchants Bank, the bank will halt its 'Zhaocai Gold' personal precious metals brokerage service on July 27, 2026, citing risk management and business needs. The bank will close trading access through mobile banking, online banking, and branch counters for the Shanghai Gold Exchange personal precious metals business. Following the closure, existing customers' permissions for closing positions, selling holdings, and taking physical delivery will be restricted.
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