Shanghai Gold Exchange is a national gold trading market approved by the State Council, established by the People's Bank of China and registered with the State Administration for Industry and Commerce. It organizes gold trading in accordance with the principles of openness, fairness, justice, honesty and credit, and does not aim at making profits.
Tianjin precious metal exchange, referred to as Jingui Institute for short, is a company-based exchange initiated by Tianjin Property Rights Exchange Center with the approval of Tianjin Municipal Government according to the spirit of the State Council policy. The exchange does not participate in trading, but only provides a trading platform to maintain trading in accordance with the principle of "three publics".