China Construction Bank participated in the London silver price fix on Monday, making it the first Chinese bank to do so, The Wall Street Journal reported, citing a statement from fix co-administrator CME group. The state-run mainland bank joints UBS Group AG, Bank of Nova Scotia, HSBC Holdings PLC, Toronto Dominion Bank and J.P. Morgan Chase & Co, reflecting the latest success in an ongoing drive by China to extend its influence on global financial markets and commodities pricing. “Every new participant is good news for a market,” said Robin Bhar, head of metals research at Société Générale. “Hopefully, we’ll have other members from the region.”
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