China Construction Bank begins participating in London silver price fix

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.”