LMEshield to Launch in People’s Republic of China

by swisscham in Hospitality, Retail, Tourism

The London Metal Exchange (LME) and Henry Bath (whose shareholders include CMST Development Co Ltd and Mercuria Energy Group) today announce a pilot programme for the launch of the LMEshield commodities safeguarding system in the People’s Republic of China (PRC). During the pilot programme, which will run for a period of one year, Henry Bath will issue receipts on the LMEshield system. Receipts will initially be issued for bonded warehouses in Shanghai, with the intention of expanding to other Chinese locations. The LME has selected Henry Bath as its pilot partner because, together with its shareholders CMST and Mercuria, it is in a position to have undertaken the necessary work to ensure that LMEshield can be deployed effectively in the PRC. As the leading Chinese state-owned warehousing company, CMST, together with Mercuria, is ideally-positioned to help Henry Bath to sponsor the rollout of LMEshield into the PRC.

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