China has further relaxed gold market restrictions, increasing the number of banks permitted to trade the yellow metal as the country’s investors pour record amounts of money into gold, the Financial Times reported. Chinese investors bought 73 tonnes of bullion last year, up from 18 tonnes in 2007. The trend is becoming a signficant factor on global prices. China, the world’s largest gold producer and second-largest consumer after India, also announced measures that will encourage development of gold-linked investment products. The People’s Bank of China is effecitvely opening the door for Chinese banks to hedge their gold risk overseas. The move is being seen as part of the gradual internationalization of China’s banking system.