China tightens supervision of gold shipments

SHANGHAI, Jan 31 (Reuters) - China's central bank and its customs administration said on Thursday that some types of gold and gold product shipments would require the central bank's permission.

The central bank did not give a reason for its decision, but said more than 10 types of gold-based compounds, including gold potassium cyanide, would be covered by the rules, the official Xinhua news agency reported.

Most domestic shipments, including those from free trade zones, export processing zones and areas under the special supervision of customs were included in the rules, but most foreign trade shipments were excluded, Xinhua said.

China's gold output rose 12.67 percent in 2007 to 270.49 tonnes, ranking it second in the world and less than two tonnes behind South Africa, according to Chinese data. (Reporting by Andrew Torchia; editing by Tony Austin)