The Shanghai Gold Exchange has unveiled its new chairman nominee. On September 15, it was learned that Guo Dayong, former Party Secretary, President, and Vice Chairman of China UnionPay, was appointed Party Secretary of the Shanghai Gold Exchange on September 14 and nominated as its chairman.

Public records indicate that Guo Dayong has extensive experience within the People's Bank of China system, having served as Deputy Governor of the PBOC Nanjing Branch and as a member of the Party Committee and Deputy Governor of the PBOC Jiangsu Provincial Branch. In July 2024, he transitioned to China UnionPay as Deputy Party Secretary before assuming the role of President. In January 2025, following approval by the People's Bank of China and election by the board of directors, he officially became Vice Chairman of China UnionPay while continuing as President and also serving as the legal representative.

In July of this year, the Shanghai Gold Exchange's former chairman, Yu Wenjian, had already taken up the post of Party Secretary and Director of the PBOC Shanghai Headquarters, President of the Shanghai Branch, and Director of the Shanghai Branch of the State Administration of Foreign Exchange.

Established by the People's Bank of China with State Council approval, the Shanghai Gold Exchange is a financial marketplace dedicated to the trading of gold and other precious metals. Officially operational since October 2002, it has evolved into a pivotal hub for China's gold market and a globally significant center for gold, silver, and platinum trading.

In September 2014, the exchange launched its international board, serving as a key gateway for the international opening of China's gold market. In April 2016, it introduced the "Shanghai Gold" benchmark price, the world's first renminbi-denominated gold benchmark, enhancing China's pricing influence in the sector. September 2018 saw the listing of China Panda Gold Coins, bridging the gap between the country's gold and coin markets. In October 2019, the "Shanghai Silver" centralized pricing contract was launched, providing a benchmark price for the entire silver market.

On June 26, 2025, the Shanghai Gold Exchange formally activated its first overseas designated delivery warehouse for its international board, located in Hong Kong. This milestone marks the first instance of renminbi-priced gold achieving physical delivery outside mainland China.