In a recent announcement on September 8, Shanghai Pudong Development Bank Co.,Ltd. revealed plans to adjust its individual precious metals agency business, citing risk management considerations and operational requirements.

The bank stated that it will selectively cease its individual precious metals agency services with the Shanghai Gold Exchange after September 25, 2026, and will simultaneously revoke trading permissions for these services across all platforms, including mobile banking, online banking, and branch counters.

Following the suspension, account holders with existing positions will face restrictions on closing, selling, and withdrawing physical metals. To safeguard client interests, Shanghai Pudong Development Bank Co.,Ltd. recommends that current position holders execute their sell, close, or physical withdrawal transactions through the aforementioned channels prior to September 25, 2026.