Gold producers set for HK listing

Two Chinese gold producers announced plans to list in Hong Kong, part of an effort to boost capital flow into China's fragmented gold industry, according to Chinese media reports. Shandong Laizhou Gold Mining said it plans to go public as early as next year, while Zhaoyuan Gold plans an initial public offering in October. Both companies are based in Shandong province. Analysts said the listings are part of a government push to merge China's current 1,200-plus gold producers, creating 12 internationally competitive conglomerates. To date three Chinese gold producers have listed, two in Shanghai and one in Hong Kong.